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 311: The quality and quantity of production mostly depend on the? Options:
  A) effectiveness of factors
  B) availibility of factors
  C) level of education of enterpreneurs
  D) level of cooperation among workers
  Show Answer
  The correct answer is A .
• Question 312: Which of the following is a traditional medium of communication used to mark festivals? Options:
  A) Palm frond
  B) Metal gong
  C) Talking drum
  D) Gum blast
  Show Answer
  The correct answer is C .
• Question 313: The pooling of business information for the benefit of members s is a major function of a? Options:
  A) pressure group
  B) trade association
  C) cultural group
  D) trade union
  Show Answer
  The correct answer is B .
• Question 314:

  The conversion of raw materials into finished products creates

  Options:
  A) form utility
  B) time utility
  C) marginal utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 315:

  A cheque that is payable to whoever presents it is known as______

  Options:
  A) order cheque
  B) open cheque
  C) crossed cheque
  D) bearer cheque
  Show Answer
  The correct answer is D .
• Question 316: Bank Giro is a method of settling debt from a Options:
  A) customer to a bank
  B) bank to customer
  C) customer to another
  D) bank to another
  Show Answer
  The correct answer is A .
• Question 317: Which software program can be used to generate financial reports from a company's client list? Options:
  A) MS Word
  B) Database
  C) MS Excel
  D) Adobe
  Show Answer
  The correct answer is C .
• Question 318: The role of customs and exercise authority includes the Options:
  A) control of the flow of goods in and out of the country
  B) control of security agents within and out of the borders
  C) provision of dockyards for ship repairs and maintenance
  D) provision of transport system to facilitate imports and exports
  Show Answer
  The correct answer is A .
• Question 319:

  The most important resources of business is_______

  Options:
  A) Human resources
  B) Money resources
  C) Material resources
  D) Opportunities
  Show Answer
  The correct answer is A .
• Question 320:

  Rights issue means the?

  Options:
  A) issue of shares to the directors of a company.
  B) issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favorable terms
  Show Answer
  The correct answer is B .