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 321:

  Insurance against burglary is an example of

  Options:
  A) non-indemnity insurance
  B) non-insurable risk
  C) indemnity insurance
  D) fidelity guarantee insurance
  Show Answer
  The correct answer is C .
• Question 322: The major objective of corporate mergers is to Options:
  A) minimize the effects of taxation
  B) increase financial advantage
  C) faclitate profit maximization
  D) enhance economies of scale
  Show Answer
  The correct answer is D .
• Question 323: In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the? Options:
  A) directors
  B) creditors
  C) promoters
  D) court
  Show Answer
  The correct answer is A .
• Question 324: The most important attributes in a sale of goods contract are? Options:
  A) offer and consideration
  B) price and goods
  C) offer and acceptance
  D) demand and supply
  Show Answer
  The correct answer is C .
• Question 325: Proper disposal of waste by business firms is one way of discharging their? Options:
  A) responsibility to government
  B) environmental responsibility
  C) community responsibility
  D) responsibility to customers
  Show Answer
  The correct answer is B .
• Question 326:

  A retail business that sells goods by post, using catalogue is a

  Options:
  A) chain store
  B) department store
  C) mail order firm
  D) shopping mail
  Show Answer
  The correct answer is C .
• Question 327: The form of credit sales common to low income groups is Options:
  A) hire purchase
  B) club trading
  C) booking -me -down
  D) credit trading
  Show Answer
  The correct answer is A .
• Question 328:

  The macro-environmental forces and trends which are a constraint on business operations are referred to as

  Options:
  A) internal factors
  B) external factors
  C) economic factors
  D) technical factors
  Show Answer
  The correct answer is C .
• Question 329:

  The theory of International trade is based on_________

  Options:
  A) Principles of management
  B) Principles of comparative cost
  C) Principle of double entry
  D) Theory of migration
  Show Answer
  The correct answer is B .
• Question 330: Recognized members of the Stock Exchange who buy and sell securities on their own behalf are known as ? Options:
  A) bulls
  B) jobbers
  C) brokers
  D) stags
  Show Answer
  The correct answer is B .