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 661:

  Hire purchase is advantageous to the seller in that

  Options:
  A) it elevates his living standard
  B) people pay on installment
  C) his turnover will increase
  D) it enhances high level of patronage
  Show Answer
  The correct answer is D .
• Question 662: 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
  Show Answer
  The correct answer is D .
• Question 663:

  Someone traveling abroad for at least "twenty - four hours" and a maximum stay of six months is known as

  Options:
  A) Transportation
  B) Tourism
  C) International trade
  D) Domestic tourism
  Show Answer
  The correct answer is B .
• Question 664:

  A two-way process which involves sending and receiving of messages is referred to as__________

  Options:
  A) Advertisement
  B) Communication
  C) Marketing
  D) Transportation
  Show Answer
  The correct answer is B .
• Question 665: One of the obstacles to achieving the objectives of ECOWAS is? Options:
  A) lack of a common currency
  B) colonial linkages
  C) sovereignty of states
  D) language differences
  Show Answer
  The correct answer is D .
• Question 666: One of the most important function of marketing is? Options:
  A) encouraging research activitiesto meets needs
  B) creating classesof merchant among businessmen
  C) the extension of market for businessmen
  D) providing finances to business
  Show Answer
  The correct answer is A .
• Question 667: A bus driver operating between Lagos and Jos pledged the owner's credit in Benin in order to have the engine repaired and the bill sent to the owner.This is a case of Options:
  A) del credere agency
  B) agency by necessity
  C) agency by rafication
  D) agency by estoppel
  Show Answer
  The correct answer is B .
• Question 668: The factor of production that is subject to depreciation is? Options:
  A) capital
  B) land
  C) labour
  D) entrepreneur
  Show Answer
  The correct answer is A .
• Question 669:

  Thee major aim of consumer orientation is_________

  Options:
  A) consumer satisfaction
  B) consumer sovereignty
  C) what to produce
  D) market research
  Show Answer
  The correct answer is A .
• Question 670: Staff position in an organization borders on Options:
  A) authority
  B) advice
  C) responsibility
  D) control
  Show Answer
  The correct answer is C .