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 681: A worker who process rice is engaged in? Options:
  A) constructive activity
  B) comercial activity
  C) extractive activity
  D) manufactural activity
  Show Answer
  The correct answer is D .
• Question 682: 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 683:

  One of the criteria for differenciating consumer markets from industrial ones is the?

  Options:
  A) type of demand
  B) type of supply
  C) nature of service rendered
  D) price of the goods
  Show Answer
  The correct answer is C .
• Question 684: The cost of transporting goods to consumers called Options:
  A) carried inward
  B) carried forward
  C) carried paid
  D) carried outward
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  The correct answer is D .
• Question 685:

  Which is the fastest means of transportation?

  Options:
  A) Water
  B) air
  C) rail
  D) Road
  Show Answer
  The correct answer is B .
• Question 686: The balance of payments of countries is Options:
  A) a record of imports and export
  B) a systematic record of transaction among countries at a given time
  C) the current and the capital accounts and their payments
  D) the trade relationships and payment among nations
  Show Answer
  The correct answer is A .
• Question 687: The documents used in the purchase and sale of goods which contain other terms of trade are? Options:
  A) debit note and credit note
  B) delivery note and advice nopt
  C) invoice and order
  D) quotation and invoice
  Show Answer
  The correct answer is C .
• Question 688:

  NACCIMA stands for

  Options:
  A) Nigerian American Centre for Culture, Industries, Mines and Arts
  B) Nigerian Association for Culture, Civics, Industries, Minerals and arts Arts
  C) National Agency for Culture, Civilization, Investment, Manufacturing and Agriculture
  D) Nigeria Association of Chambers of Commerce, Industries, Mines and Agriculture
  Show Answer
  The correct answer is D .
• Question 689: The concept that refers to the sale, transfer or exchange of goods and service is? Options:
  A) industry
  B) trade
  C) tariff
  D) marketing
  Show Answer
  The correct answer is B .
• Question 690: A factor in a business environment which increases the rate of product obsolescence is? Options:
  A) technology
  B) political
  C) legal
  D) economic
  Show Answer
  The correct answer is A .