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 71:

  One of the disadvantages of rail transport is

  Options:
  A) It is not flexible
  B) It carries bulky goods
  C) It works at intervals
  D) Cost of transportation is high
  Show Answer
  The correct answer is A .
• Question 72: The development of commerce resulted from? Options:
  A) trading
  B) competition
  C) importation
  D) specialization
  Show Answer
  The correct answer is A .
• Question 73: The organizational structure that relates the positions of specialist to the line mangers is called? Options:
  A) line structure
  B) staff structure
  C) line and staff structure
  D) functional structure
  Show Answer
  The correct answer is B .
• Question 74: Which of the following is not a veritable source of funds to a public limited company? Options:
  A) government financial grant
  B) advances and loan from banks
  C) internally generated funds
  D) funds from the sale of shares
  Show Answer
  The correct answer is A .
• Question 75:

  One of these is a current asset

  Options:
  A) machineries
  B) fittings
  C) stock
  D) motor vehicles
  Show Answer
  The correct answer is C .
• Question 76: A businessman who undertakes the hull insurance policy is aiming at? Options:
  A) conerting losses on damages to the cargo
  B) protcting injured crew in the ship
  C) averting payment of the freight
  D) covering damages to the body of the ship
  Show Answer
  The correct answer is A .
• Question 77: The circulating capital of a business enterprise is classified into? Options:
  A) cash, work-in-progress and debtors
  B) cash,vehicles, land and buildings
  C) debtors , stock of raw materials and fittings
  D) pre-payments, debtors and equipment
  Show Answer
  The correct answer is A .
• Question 78: A major objective of all business resources is ______ Options:
  A) public relation
  B) profit sharing
  C) human relation
  D) profit making
  Show Answer
  The correct answer is D .
• Question 79: The practice whereby government relinquishes its ownership interest in a public enterprises is? Options:
  A) commercialization
  B) indegenization
  C) privatization
  D) nationalization
  Show Answer
  The correct answer is C .
• Question 80:

  The direct authority of a superior over his subordinate is known as?

  Options:
  A) staff authority
  B) line authority
  C) line and staff authority
  D) lateral authority
  Show Answer
  The correct answer is B .