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 751: Communication process involves the transmission of a message over a selected channel to the? Options:
  A) receiver
  B) audience
  C) sender
  D) encoder
  Show Answer
  The correct answer is A .
• Question 752:

  The board of directors of public enterprise is appointed by who?

  Options:
  A) government
  B) management
  C) employees
  D) shareholders
  Show Answer
  The correct answer is A .
• Question 753: One of the functions of the wholesaler is to? Options:
  A) forecast prices
  B) reduce prices of goods
  C) promote sales
  D) analyse sales periodically
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  The correct answer is C .
• Question 754: A type of long-term loan granted to companies with fixed interest as well as with redeemable and irredeemable features is referred to as? Options:
  A) a denbenture
  B) a bond
  C) a term loan
  D) an overdraft
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  The correct answer is A .
• Question 755:

  When it becomes necessary to liquidate a company, the first step to be taken is the appointment of a?

  Options:
  A) a receiver
  B) an auditor
  C) an account
  D) a liquidator
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  The correct answer is D .
• Question 756:

  Which of the following organizations provide essential goods and services at low cost to citizens?

  Options:
  A) Thrift societies
  B) Public enterprises
  C) Private companies
  D) Cooperative societies
  Show Answer
  The correct answer is B .
• Question 757: The market structure, business conditions and financial system in Nigeria constitute the? Options:
  A) economic enironment
  B) political environment
  C) cultural environment
  D) technological environment
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  The correct answer is A .
• Question 758:

  Chinyere agreed to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready at that date, Halima could

  Options:
  A) Seize another gown from Chinyere’s shop
  B) Regard the contract between them as terminated
  C) Sue Chinyere for specific performance
  D) Sue Chinyere for damages
  Show Answer
  The correct answer is B .
• Question 759: The major difference between insurance and assurance is that while insurance Options:
  A) takes care of uncertainty, assurance takes care of risks
  B) takes care of risks , assurance takes care of uncertainty
  C) hinges on probabilities, assurance is based on possibilities
  D) is about indemnity, assurance is about life in the future
  Show Answer
  The correct answer is C .
• Question 760: The body with the responsibility to register shares for subscription on the stock market in Nigeria is the? Options:
  A) Securties and Exchange Commission
  B) Nigerian Stock Exchange
  C) Nigerian Deposit Insurance Company
  D) Central Bank of Nigeria
  Show Answer
  The correct answer is A .