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 971: Hire purchase is beneficial to the seller because? Options:
  A) it enhances his living standard
  B) it increases his turnover
  C) people pay instalmentally
  D) of the patronage he enjoys
  Show Answer
  The correct answer is B .
• Question 972:

  The macro-environmental forces and trends which are a constraint on business operations are referred to as

  Options:
  A) internal factors
  B) technological factors
  C) economic factors
  D) external factors
  Show Answer
  The correct answer is D .
• Question 973: A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing? Options:
  A) price concept
  B) distribution concept
  C) product concept
  D) markting concept
  Show Answer
  The correct answer is D .
• Question 974: The efficiency of an organization is enhanced by? Options:
  A) government assistance
  B) the host community
  C) customer support
  D) skilled manpower
  Show Answer
  The correct answer is D .
• Question 975: An activity that involves derivation of raw materials from land and sea is? Options:
  A) construction
  B) farming
  C) agriculture
  D) extraction
  Show Answer
  The correct answer is D .
• Question 976: The function which ensures that set objectives are attained by an organization is? Options:
  A) planning
  B) directing
  C) staffing
  D) controlling
  Show Answer
  The correct answer is D .
• Question 977: A feature common to public and private limited liability companies is that Options:
  A) both can sue and be sued
  B) the minimum number of their shareholders is five
  C) the transfer of their shares is not restricted
  D) their annual accounts are published for public use
  Show Answer
  The correct answer is A .
• Question 978: A major criticism of a cooperative society is? Options:
  A) limited capital
  B) granting exceessive loans to members
  C) selling goods on credit to non-members
  D) management incompetence
  Show Answer
  The correct answer is D .
• Question 979:

  A demerit of communication is that it

  Options:
  A) increase the cost of goods in transit
  B) give room for distortion of fact
  C) hinder quick reception of messages over a long distance
  D) makes payment for goods cumbersome
  Show Answer
  The correct answer is B .
• Question 980: The document submitted to the customs authority when full description of imported goods is not provided is Options:
  A) a bill of sight
  B) an invoice
  C) an indent
  D) a bill of entry
  Show Answer
  The correct answer is C .