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 581: The type of activity which turns processed raw materials into consumer and industrial goods is described as ________ Options:
  A) extractive
  B) manufacturing
  C) constructive
  D) processing
  Show Answer
  The correct answer is B .
• Question 582:

  The Sole aim of government owned business is to

  Options:
  A) make profit
  B) provide services to the public
  C) spread environmental pollution
  D) manage action
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  The correct answer is B .
• Question 583: The quality of money that describe its uniformity is Options:
  A) recognizability
  B) durability
  C) portability
  D) homogeneity
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  The correct answer is D .
• Question 584:

  

  Use the diagram above to answer this question

  X represents

  Options:
  A) action
  B) receiver
  C) transmission
  D) ideation
  Show Answer
  The correct answer is B .
• Question 585: Money can be simply be referred to as a Options:
  A) measure of value
  B) standard of value
  C) means of settlement
  D) durable asset for doing business
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  The correct answer is A .
• Question 586: A cheque that has been drawn but not presented for payment can still be honored? Options:
  A) wintin 6 months
  B) after 9 months
  C) within 9 months
  D) after 6 months
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  The correct answer is A .
• Question 587: The lumbering of trees by a furniture company is an example of Options:
  A) primary production
  B) secondary production
  C) tertiary production
  D) direct production
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  The correct answer is A .
• Question 588: When it became necessary to liquidate a company, the frist step to be taken is the appointment of Options:
  A) a receiver
  B) an auditor
  C) an accountant
  D) liquidator
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  The correct answer is D .
• Question 589:

  Which of the following organizations provide essential goods and services at low cost to citizens?

  Options:
  A) Thrift societies
  B) Public enterprises
  C) Private companies
  D) Cooperative societies
  Show Answer
  The correct answer is B .
• Question 590: When a price is quoted at F.O.B. it means that the price? Options:
  A) excludes loading charges incurred in bringing the goods to port of destinction
  B) exclude all necessary shipping charges payable for insurrance
  C) includes all charges payable on shipping a consignment to the port destination
  D) includes charges payable for for loading goods onto the ship
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  The correct answer is C .