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: A type of long-term loan granted to companies with fixed interest as well as with redeemable and irredeemable features is referred to as? Options:
  A) a denbenture
  B) a bond
  C) a term loan
  D) an overdraft
  Show Answer
  The correct answer is A .
• Question 412: Factors of production can be described as the? Options:
  A) resources required for the provision of goods and services
  B) skills involves in deciding and directing the flow of goods
  C) monetary tools employed by government to ensure stable production
  D) elements involved in the process of formulating policies on production
  Show Answer
  The correct answer is A .
• Question 413: The business organization established mainly for the purpose of carrying out specific assignment for a specific duration is a Options:
  A) Partnership
  B) Company
  C) Joint venture
  D) Co-operative society
  Show Answer
  The correct answer is C .
• Question 414: When an oil exploring and mining company builds a health center in one of the communities where it operates, such a company is Options:
  A) currying favour from local people
  B) finding a way to spend resonsibility
  C) fulfilling part of its social responsibilty
  D) invest its idle funds
  Show Answer
  The correct answer is C .
• Question 415: A bus driver operating between Lagos and Jos pledged the owner's credit in Benin in order to have the engine repaired and the bill sent to the owner.This is a case of Options:
  A) del credere agency
  B) agency by necessity
  C) agency by rafication
  D) agency by estoppel
  Show Answer
  The correct answer is B .
• Question 416: A protection right which can be reviewed or renewed after seven years is known as? Options:
  A) patent
  B) design
  C) registration name
  D) trade mark
  Show Answer
  The correct answer is A .
• Question 417: Warehousing is a productive function because it increase the Options:
  A) quantity of goods
  B) utility of goods
  C) quality of goods
  D) price of goods
  Show Answer
  The correct answer is A .
• Question 418: Transport, retailing and wholesaling industries rely heavily on Options:
  A) banking
  B) insurance
  C) manufacturing
  D) railway
  Show Answer
  The correct answer is C .
• Question 419:

  All harbours, docks and waterways of Nigeria are looked after by a public corporation called the

  Options:
  A) Nigerian Police Authority
  B) Nigerian Ports Authority
  C) National Ports Authority
  D) National Police Authority
  Show Answer
  The correct answer is B .
• Question 420:

  Bank overdraft as a short term source of fund is

  Options:
  A) A current liability
  B) An overdrawn account
  C) Grade to a newly opened account
  D) Repayable after more than a year
  Show Answer
  The correct answer is A .