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 521: Communication enhances business activities by? Options:
  A) facilitating interaction between producers and consumers
  B) facilitating interaction among media houses
  C) ensuring the movement of goods from the producer to the consumer
  D) keeping the goods safe untill they are needed
  Show Answer
  The correct answer is A .
• Question 522: Sabo and Gambo entered into a contract for the sale of two baskets of tomatoes belonging to Gambo. Before the date the date of delivery and without any default by Gambo, the tomatoes were stolen. This is an example of termination of contract by Options:
  A) breach
  B) performance
  C) fault
  D) frustration
  Show Answer
  The correct answer is D .
• Question 523:

  The business unit that applies the principle of one man vote is

  Options:
  A) public company
  B) partnership
  C) co-operative society
  D) sole properitorship
  Show Answer
  The correct answer is C .
• Question 524: An example of a non-insurable risk is? Options:
  A) burglary
  B) speculation
  C) fire
  D) accident
  Show Answer
  The correct answer is B .
• Question 525: Which of the following is a quality of money Options:
  A) Availability
  B) Scarcity
  C) Indivisibility
  D) Convertibility
  Show Answer
  The correct answer is A .
• Question 526: From which of the following sources can partnerships increase their capital? Options:
  A) Admission of a new partner
  B) Sale of shares
  C) Discharge of a mortage
  D) initial capital
  Show Answer
  The correct answer is A .
• Question 527: The body which ensures that consumers are protected against harmful products in Nigeria is Options:
  A) NAFDAC
  B) NDLEA
  C) SON
  D) CPC
  Show Answer
  The correct answer is A .
• Question 528: A bank statement is a document Options:
  A) ordering a bank to pay on demand a stated sum of money
  B) containing records of receipts, payments and balance on an account
  C) used for paying into bank account
  D) used for regular withdrawal of money from a savings account
  Show Answer
  The correct answer is B .
• Question 529: Ships that sail across the ocean and operate on scheduled time tables are? Options:
  A) ferries
  B) ocean liners
  C) tramp steamers
  D) coastal liners
  Show Answer
  The correct answer is B .
• Question 530: The process of transferring data from one computer to another is referred to as Options:
  A) downloading
  B) faxing
  C) browsing
  D) decoding
  Show Answer
  The correct answer is A .