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 611: One advantage of a crossed cheque is that it can? Options:
  A) only be paud into a savings account
  B) be cashed over the bank's counter
  C) only be paid into the owner's account
  D) be cashed by anyone
  Show Answer
  The correct answer is C .
• Question 612: In which of the following circumstances is a court order NOT necessary for the winding up of a company? Options:
  A) supension of businesss for one year
  B) special resolution of members
  C) reduction in the number of members below the legal minimum
  D) inability to pay it debts
  Show Answer
  The correct answer is B .
• Question 613: A transporter who had to sell some perishable goods without the prior authority of the owner becomes an agent by? Options:
  A) conduct
  B) necessity
  C) ratification
  D) estoppel
  Show Answer
  The correct answer is B .
• Question 614:

  A terms of payment in which the buyer pays cash immediately for goods bought before he takes them away is called____

  Options:
  A) Prompt cash
  B) Cash on delivery
  C) Spot cash
  D) Cash with order
  Show Answer
  The correct answer is C .
• Question 615: The details of the goods require by the the purchaser is outlined in? Options:
  A) a consular invoice
  B) an indent
  C) an invoice
  D) a certificateof orign
  Show Answer
  The correct answer is C .
• Question 616: One major advantage of transportation to a business is to? Options:
  A) extend the firm's market coverage
  B) ensure that goods are produced faster
  C) procure raw materials cheaply
  D) ensure the quality of products
  Show Answer
  The correct answer is A .
• Question 617: A contract which is devoid of legal effect is Options:
  A) void contract
  B) unenforceable contract
  C) voidable contract
  D) valid contract
  Show Answer
  The correct answer is C .
• Question 618: The major condition for obtaining loan in thrift, credit and loans cooperative societies is Options:
  A) provision of collateral security
  B) a high level of education
  C) possesssion of a large business
  D) an approved project plan
  Show Answer
  The correct answer is A .
• Question 619:

  Which of the following groups would advocate for the supply of constant electricity to households?

  Options:
  A) Consumer's association
  B) Credit union
  C) Employer's association
  D) Labour union
  Show Answer
  The correct answer is A .
• Question 620: An agent who brings a customer into business contact with his principle is known as? Options:
  A) a del credere agent
  B) an auctioneer
  C) a factor
  D) a broker
  Show Answer
  The correct answer is D .