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 51:

  The transmission of the telephone services from one country to another is facilitated by

  Options:
  A) international facility
  B) internet services
  C) interconnectivity
  D) communication satellite
  Show Answer
  The correct answer is D .
• Question 52: Authorized share capital is also known as? Options:
  A) called-up share capital
  B) paid-up share
  C) registered share capital
  D) issued share capital
  Show Answer
  The correct answer is C .
• Question 53: A pro-forma invoice is sent to inform a buyer about the Options:
  A) quantity of goods
  B) prices of goods
  C) designation of goods
  D) quality of goods
  Show Answer
  The correct answer is B .
• Question 54:

  An International organisation that influence and fix the price of oil in the International markets is

  Options:
  A) IMF
  B) ECOWAS
  C) OPEC
  D) OAU
  Show Answer
  The correct answer is C .
• Question 55: The most suitable organizational structure for small or medium sized enterprises is Options:
  A) line structure
  B) staff structure
  C) committee structure
  D) functional structure
  Show Answer
  The correct answer is A .
• Question 56:

  A merchant wholesaler is referred to as?

  Options:
  A) del-credere agent
  B) a broker
  C) rack jobber
  D) a factor
  Show Answer
  The correct answer is D .
• Question 57: The development of commerce in west Africa was not hampered by Options:
  A) Inadequate capital
  B) Inadequate means of transportation
  C) Insurance
  D) Low savings
  Show Answer
  The correct answer is B .
• Question 58: Primary production is associated with? Options:
  A) banking
  B) manufacturing
  C) agriculture
  D) construction
  Show Answer
  The correct answer is C .
• Question 59: The right of the public to protection against questionable products and marketing practices is Options:
  A) an economic aspect of the business
  B) a social responsibility of business
  C) a legal aspect of the business
  D) a political aspect of the business
  Show Answer
  The correct answer is C .
• Question 60: The arrangement and interrelationship of the various components and positions of a business is referred to as? Options:
  A) organizational structure
  B) clarity of objective
  C) unity of direction
  D) line structure
  Show Answer
  The correct answer is A .