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 2781: An agreement that is enforceable in law is ________? Options:
  A) a contract
  B) an offer
  C) an acceptance
  D) a consideration
  Show Answer
  The correct answer is A .
• Question 2782: Which of the following sets of items was used for exchange in Nigeria before money was introduced? Options:
  A) cowries, iron rods, brass rods and copper rods
  B) iron rods, copper rods, manilla and cowries
  C) cowries, manilla, brass rod andcopper wires
  D) copper wires, brass wires, cowries and iron rod
  Show Answer
  The correct answer is C .
• Question 2783: The major factors that facilitate merchandising are Options:
  A) commuincation , advertising and banking
  B) trading, warehousing and production
  C) management, insurance, and advertising
  D) banking, insurance and transportation
  Show Answer
  The correct answer is D .
• Question 2784:

  The activity which entails buying of goods in bulk and selling in small quantities to retailers is

  Options:
  A) wholesaling
  B) retailing
  C) merchandising
  D) assembling
  Show Answer
  The correct answer is A .
• Question 2785: An agent who transacts business with the broker in the stock exchange is a Options:
  A) stag
  B) bull
  C) del credere
  D) jobber
  Show Answer
  The correct answer is D .
• Question 2786:

  The stock exchange is a market where

  Options:
  A) short-term securities are sold
  B) medium term securities are sold
  C) all types of securities are sold
  D) long term securities are sold
  Show Answer
  The correct answer is C .
• Question 2787: The necessary documents used in foreign trade are? Options:
  A) bill of lading, invoice and letter of inqiry
  B) indent, bill of exchange, bill of lading and voice
  C) voice, shipping note, bill of lading and freight note
  D) shipping note, certificate of origin and visible exports
  Show Answer
  The correct answer is C .
• Question 2788: The distribution of petroleum products in Nigeria is through Options:
  A) rail
  B) road
  C) sea
  D) air
  Show Answer
  The correct answer is D .
• Question 2789: The computer that functions by taking discrete numbers and performing mathematical calculations is called? Options:
  A) mainframe
  B) digital
  C) hybride
  D) analogue
  Show Answer
  The correct answer is C .
• Question 2790:

  The internet is a system of telecommunication used for

  Options:
  A) The internet is a system of telecommunication used for
  B) Communicating long distance messages
  C) Sending and receiving text messages
  D) Communicating messages through telegrams
  Show Answer
  The correct answer is A .