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 931:

  Use the following information to answer this question.

  Oladosu Bookshop

  54, Ahmadu Bello Way

  Kaduna

  P.O.BOOX 336

  6 January 1989

  Olu Stationery ltd

  17, Kakawa Street

  Lagos

  Dear Sir,

  We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.

  Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.

  Yours Faithfully

  Manager.

  The above represents?

  Options:
  A) A quotation
  B) Consignment notes
  C) Letters of Inquiry
  D) An order form
  Show Answer
  The correct answer is C .
• Question 932:

  Goods bought into the country for sale are the country's

  Options:
  A) invisible imports
  B) invisible exports
  C) visible imports
  D) visible exports
  Show Answer
  The correct answer is C .
• Question 933:

  Which of the following regulates and controls the activities in the Nigerian Stock Exchange?

  Options:
  A) CBN
  B) BPE
  C) SEC
  D) NDIC
  Show Answer
  The correct answer is C .
• Question 934:

  The fees charged on postal order by the post office is

  Options:
  A) premium
  B) poundage
  C) interest
  D) brokerage
  Show Answer
  The correct answer is B .
• Question 935:

  A form of ownership which exploits the strenght of one partner to remedy the weakness of the other is the?

  Options:
  A) joint partnership
  B) cooperative
  C) corporation
  D) joint venture
  Show Answer
  The correct answer is A .
• Question 936: One of the major disadvantages of pipeline transportation is its? Options:
  A) high cost of construction
  B) limitation in scope
  C) vulnerability to climate changes
  D) high maintainance cost
  Show Answer
  The correct answer is A .
• Question 937: The role of public relations is principally to Options:
  A) sustain good relationship
  B) create good image
  C) carry out publicity
  D) advertise a firm's products
  Show Answer
  The correct answer is B .
• Question 938: Goods are of merchantable quality if they? Options:
  A) conform to description
  B) are of equal weight
  C) are of the same quality
  D) conform to buyers' purpose
  Show Answer
  The correct answer is A .
• Question 939: The creation of utilities is to satisfy human wants is referred to as? Options:
  A) production
  B) consumption
  C) industrialization
  D) occupation
  Show Answer
  The correct answer is A .
• Question 940: An agent who brings a customer into business contact with his principle is known as? Options:
  A) a del credere agent
  B) an auctioneer
  C) a factor
  D) a broker
  Show Answer
  The correct answer is D .