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 481: 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 .
• Question 482: Activities undertaken to create awareness for goods by conducting contest is? Options:
  A) marketing concept
  B) consumerism
  C) sales promotion
  D) marketing mix
  Show Answer
  The correct answer is C .
• Question 483:

  Balance of payment consist of _________ and __________ items

  Options:
  A) Credit and loss
  B) visible and non-visible
  C) valid and invalid
  D) income and expenditure
  Show Answer
  The correct answer is B .
• Question 484:

  A country's visible balance of payment is made up of

  Options:
  A) interest on loans to foreign countries
  B) profit from investment abroad
  C) earnings from goods exported
  D) dividend earned from companies
  Show Answer
  The correct answer is C .
• Question 485:

  An offer extended to several people at once is called

  Options:
  A) Acceptance
  B) Offeror
  C) Invitation to threat
  D) Consideration
  Show Answer
  The correct answer is C .
• Question 486: Departmentalization is an aspect of? Options:
  A) planing
  B) organising
  C) directing
  D) controlling
  Show Answer
  The correct answer is B .
• Question 487: One of the functions of the retailer is Options:
  A) granting credit facilities to close relatives
  B) provision of after - sales services
  C) branding and packaging of goods
  D) warehousing of goods
  Show Answer
  The correct answer is B .
• Question 488:

  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 .
• Question 489: The promotion and protection of trade industry and agriculture through trade fairs is a function of Options:
  A) NACRDB
  B) NACCIMA
  C) the consumer protection council
  D) the chamber of commerce
  Show Answer
  The correct answer is D .
• Question 490: The purchase of goods under the CWO system of payment implies that? Options:
  A) money must be enclosed when ordering
  B) payment must be made on delivery
  C) payment must be made within few days
  D) cash must be paid on the spot
  Show Answer
  The correct answer is B .