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 61: The best means of sending unwritten messages simultaneously to many branches of an organization within a country is the? Options:
  A) television
  B) telephone
  C) telegraph
  D) radio
  Show Answer
  The correct answer is C .
• Question 62: The assembling of products into usable forms is known as Options:
  A) creation
  B) manufacturing
  C) construction
  D) formation
  Show Answer
  The correct answer is C .
• Question 63: The right of ownership with respect to goods or property is? Options:
  A) right of occupancy
  B) proxy
  C) tittle
  D) certificate of occupancy
  Show Answer
  The correct answer is D .
• Question 64: Which of the following is an example of trade associations? Options:
  A) European Union
  B) National Marketing Board
  C) Organization of African Unity
  D) National Farmers' Council
  Show Answer
  The correct answer is B .
• Question 65:

  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 66: Partnership are most suitable where Options:
  A) the partners are family friends
  B) professionals are involved
  C) members can easily rasie enough capital
  D) government regulations are favourable
  Show Answer
  The correct answer is B .
• Question 67: What is the role of the capital market in the privatization exercise in Nigeria? Options:
  A) Selling the shares and stocks of the companies to be privatized
  B) Encouraging private companies to participate in the exercise
  C) Negotiating with individuals who want to buy public companies
  D) Advertising for governement
  Show Answer
  The correct answer is A .
• Question 68:

  Which of the following attracts only interest but leaves the capital unpaid?

  Options:
  A) a development bond
  B) a long term loan
  C) an irredeemable bond
  D) redeemable bond
  Show Answer
  The correct answer is C .
• Question 69: Freight note is a document Options:
  A) used by government to transport goods from one country to another
  B) issued by a shipping company giving details of charges
  C) used for payment for imported goods
  D) given by an importer to pay for goods at a future period
  Show Answer
  The correct answer is B .
• Question 70:

  The basic characteristics of co-operative society include all except one

  Options:
  A) It is managed democratically
  B) It follows the principle of one man
  C) Amateur Management
  D) Extra capital is raised through loan
  Show Answer
  The correct answer is C .