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: The Continental West African Conference is a Options:
  A) group of all West African countries trading in the same products
  B) conference to foster unity among the West African countries
  C) gorups of shipping lines operating on the same West African route
  D) trust with shareholders fromall West African countries
  Show Answer
  The correct answer is D .
• Question 72: Ordianry warehouse is usually owned and used by Options:
  A) government
  B) agents
  C) retailers
  D) wholesalers
  Show Answer
  The correct answer is D .
• Question 73: A bank statement is a document Options:
  A) ordering a bank to pay on demand a stated sum of money
  B) containing records of receipts, payments and balance on an account
  C) used for paying into bank account
  D) used for regular withdrawal of money from a savings account
  Show Answer
  The correct answer is B .
• Question 74: A demerit of communication is that it ________ Options:
  A) makes payment for goods cumbersome
  B) increase the cost of goods in transit
  C) give room for distortion of fact
  D) hinder quick reception of messages over a long distance
  Show Answer
  The correct answer is C .
• Question 75: Which of the following will not be stated in a Memorandum of Association Options:
  A) Name clause
  B) rights of shareholders
  C) object clause
  D) registered office
  Show Answer
  The correct answer is C .
• Question 76:

  One of the principles of insurance is

  Options:
  A) Proximate cause
  B) Fidelity guarantee
  C) Consequential loss
  D) Surrender value
  Show Answer
  The correct answer is A .
• Question 77: The financial institution established to boost Nigeria's trade with the rest of the world is called Options:
  A) Nigerian Deposit Insurance Corporation
  B) Nigerian Economic Reconstruction Fund
  C) Nigerian Industrial Development Bank
  D) Nigerian Export-Import Bank
  Show Answer
  The correct answer is D .
• Question 78:

  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 79:

  Which of the following are the components of commerce?

  I Trading and advertising

  II Warehousing and transportation

  III Packaging and branding

  IV Insurance and banking

  Options:
  A) I and II
  B) I and III
  C) I, II and IV
  D) II, III and IV
  Show Answer
  The correct answer is C .
• Question 80: When a business enterprise provides free service to its environment, the service is said to be a Options:
  A) civic responsibility
  B) philanthropic consideration
  C) social responsibility
  D) political consideration
  Show Answer
  The correct answer is C .