Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 2711: The machine used for sending telex messages is known as a? Options:
  A) radar
  B) fax machine
  C) dictaphone
  D) teleprinter
  Show Answer
  The correct answer is B .
• Question 2712:

  One of the merits of television as a medium of advertising is that it

  Options:
  A) is prone to censorship
  B) is relatively cheap
  C) has more network coverage
  D) has more sensory stimulation
  Show Answer
  The correct answer is D .
• Question 2713:

  Use the following information to answer this question.

  Oladosu Bookshop

  54, Ahmadu Bello Way

  Kaduna

  P.O.BOOX 336

  6 January 1989

  Olu Stationery ltd

  17, Kakawa Street

  Lagos

  Dear Sir,

  We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.

  Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.

  Yours Faithfully

  Manager.

  The above represents?

  Options:
  A) A quotation
  B) Consignment notes
  C) Letters of Inquiry
  D) An order form
  Show Answer
  The correct answer is C .
• Question 2714: An aspect of commerce that facilitates the distribution of products is? Options:
  A) transportation
  B) advertising
  C) branding
  D) trading
  Show Answer
  The correct answer is A .
• Question 2715: The arrangement and interrelationship of the various components and positions of a business is referred to as? Options:
  A) organizational structure
  B) clarity of objective
  C) unity of direction
  D) line structure
  Show Answer
  The correct answer is A .
• Question 2716: The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as Options:
  A) excess charges
  B) demurrage charges
  C) permium charges
  D) trade charges
  Show Answer
  The correct answer is B .
• Question 2717: The ECOBANK is the initiative of? Options:
  A) some well-meaning Nigerian shareholders
  B) the Federal Government of Nigeria
  C) West African states tto foster trade
  D) the Lagos State Governement to enhance capital mobilization
  Show Answer
  The correct answer is C .
• Question 2718: Which of the following is a form of social responsibility of a business? Options:
  A) Selling goods at cheaper prices
  B) Using the best technology available
  C) Maintaining tidy and safe environment
  D) Meeting contractor's obligations
  Show Answer
  The correct answer is C .
• Question 2719: One of the characteristics of a good organizational chart is that it should Options:
  A) be rigid
  B) show government policy
  C) facilitate communication
  D) be acceptable
  Show Answer
  The correct answer is C .
• Question 2720:
  

  What are fixtures and fittings in a balance sheet?

  Options:
  A) liquid capital
  B) current assets
  C) fixed assets
  D) working capital
  Show Answer
  The correct answer is C .