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 411:

  Which of the following groups would advocate for the supply of constant electricity to households?

  Options:
  A) Consumer's association
  B) Credit union
  C) Employer's association
  D) Labour union
  Show Answer
  The correct answer is A .
• Question 412: A broker is an agent who links a potential investor with? Options:
  A) a shareholder who wants to register a company
  B) other members of the exchange who want to trade
  C) governement official on the exchange
  D) a quoted company
  Show Answer
  The correct answer is D .
• Question 413: The resources which are necessary for business development include? Options:
  A) manufacturing , materials mentors and money
  B) merchant, materials, mentors and money
  C) man, money, materials and machines
  D) machines, manufacturing , money and materials
  Show Answer
  The correct answer is C .
• Question 414: A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is Options:
  A) N40,000
  B) N80,000
  C) N100,000
  D) N200,000
  Show Answer
  The correct answer is C .
• Question 415:

  A major function of trade association is to

  Options:
  A) foster cooperation among members
  B) establish a link among member
  C) assist members to buy cars
  D) help individuals to set up small business
  Show Answer
  The correct answer is A .
• Question 416:

  The scope of commerce is limited to________

  Options:
  A) home and foreign trade
  B) wholesaler and retail trade
  C) trade and aids to trade
  D) wholesale and entreport trade
  Show Answer
  The correct answer is C .
• Question 417: When a business enterprise provides free service to its environment, the service is said to be a Options:
  A) civic responsibility
  B) philanthropic consideration
  C) social responsibility
  D) political consideration
  Show Answer
  The correct answer is C .
• Question 418:

  A major function of trade association is to

  Options:
  A) foster cooperation among members
  B) establish a link among member
  C) assist members to buy cars
  D) help individuals to set up small business
  Show Answer
  The correct answer is A .
• Question 419: A printed copy of processed information from the computer is the? Options:
  A) soft copy
  B) file copy
  C) scanned copy
  D) hard copy
  Show Answer
  The correct answer is D .
• Question 420: Which of the following is used to inform the addressee that a registered parcel is ready for collection? Options:
  A) Express label
  B) Counterfoil
  C) Telegram
  D) Slip
  Show Answer
  The correct answer is D .