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 781: The secretariat of the Niger Basin Commission is located at Options:
  A) Ouagadougou, Burkina Faso
  B) Abuja, Nigeria
  C) Niamey, Niger
  D) Bamako, Mali
  Show Answer
  The correct answer is C .
• Question 782: A close indent is an instrument to an agent to Options:
  A) order goods from a particular manufacturer
  B) order goods from any manufacturer
  C) sell gods to any firm
  D) sell goods to a certain firm
  Show Answer
  The correct answer is A .
• Question 783: Insurance against burglary is an example of Options:
  A) indemnity insurance
  B) fidelity guarantee insurance
  C) non-insurable risk
  D) non-indemnity insurance
  Show Answer
  The correct answer is A .
• Question 784: The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is? Options:
  A) rejuvenation
  B) focus
  C) diversification
  D) consolidation
  Show Answer
  The correct answer is C .
• Question 785: The development of a continer and a graphic design for a product is called? Options:
  A) packaging
  B) promotion
  C) processing
  D) production
  Show Answer
  The correct answer is A .
• Question 786:

  The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

  Options:
  A) indemnity
  B) contribution
  C) proximate cause
  D) uberrimae fidei
  Show Answer
  The correct answer is B .
• Question 787:

  The provision of services is classified under

  Options:
  A) batch production
  B) flow production
  C) secondary production
  D) tertiary production
  Show Answer
  The correct answer is D .
• Question 788:

  Good and services transferred from seller to buyer without immediate payment is referred to as

  Options:
  A) leasing
  B) hire purchase
  C) credit sale
  D) mutual understanding
  Show Answer
  The correct answer is C .
• Question 789: A minor is not permitted to enter into a valid contract because he Options:
  A) Cannot pay the consideration
  B) Is too young to interpret the law
  C) Is young in the eye of the law
  D) May not be able to write the contract
  Show Answer
  The correct answer is C .
• Question 790: Which of these is both merit and demerit in partnership? Options:
  A) The number of partners
  B) It unlimited nature
  C) The bearing of risk
  D) The withdrawal of a major partner
  Show Answer
  The correct answer is A .