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 301: The document issued by a port authority for goods deposited is a Options:
  A) bill of lading
  B) bill of sight
  C) consular invoice
  D) warehouse warrant
  Show Answer
  The correct answer is D .
• Question 302: Social responsibility of business requires enterprises to Options:
  A) hold annual social parties for the public
  B) draw their workers only from the immediate environment
  C) address themselves to issues relating to the society
  D) set up social welfare centers in their areas of operation
  Show Answer
  The correct answer is C .
• Question 303: A functional structure is an organizational structure in which? Options:
  A) abstract rules are applied
  B) equity prevails
  C) a specialist enforces his directives
  D) there is no hierarchy
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  The correct answer is C .
• Question 304:

  A contract will not be discharge through

  Options:
  A) acceptance
  B) agreement
  C) breach
  D) performance
  Show Answer
  The correct answer is A .
• Question 305:

  The production of goods and services in anticipation of demand is made possible by

  Options:
  A) warehousing
  B) packaging
  C) branding
  D) advertising
  Show Answer
  The correct answer is A .
• Question 306:

  The process of winding up or bringing a company to an end is________

  Options:
  A) Dissolution
  B) Liquidation
  C) Integrating
  D) Merger
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  The correct answer is B .
• Question 307:

  Examples of Commercial occupation are all except___________

  Options:
  A) Bankers
  B) Traders
  C) Insurers
  D) Goldsmith
  Show Answer
  The correct answer is D .
• Question 308:

  The principle of management that emphasizes on the number of subordinates under the direct supervision of a manager is

  Options:
  A) unity of command
  B) scalar chain
  C) unity of direction
  D) span of control
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  The correct answer is D .
• Question 309: The quality of money that describe its uniformity is Options:
  A) recognizability
  B) durability
  C) portability
  D) homogeneity
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  The correct answer is D .
• Question 310:

  The major determinant of fire insurance premium is the

  Options:
  A) usefulness of the property to the owner
  B) type and structure of the property to be insured
  C) owner of the property to be insured
  D) extent of fire damage anticipated
  Show Answer
  The correct answer is B .