WAEC: COMMERCE
Quizzes
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2014 Commerce WAEC Objective Past Questions
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2014 Commerce WAEC Theory Past Questions
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2015 Commerce WAEC Theory Past Questions
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2015 Commerce WAEC Objective Past Questions
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2016 Commerce WAEC Objective Past Questions
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2016 Commerce WAEC Theory Past Questions
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2017 Commerce WAEC Objective Past Questions
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2017 Commerce WAEC Theory Past Questions
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2018 Commerce WAEC Objective Past Questions
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2018 Commerce WAEC Theory Past Questions
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2019 Commerce WAEC Objective Past Questions
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2019 Commerce WAEC Theory Past Questions
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2020 Commerce WAEC Objective Past Questions
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2020 Commerce WAEC Theory Past Questions
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2021 Commerce WAEC Objective Past Questions
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2021 Commerce WAEC Theory Past Questions
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Question 1 of 50
1. Question
A price quotation which includes all the expenses involved in loading the goods into a ship is
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Question 2 of 50
2. Question
Shares, bonds, stocks and debentures traded on the stock exchange are collectively called
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Question 3 of 50
3. Question
In a hire purchase contract, the customer becomes the legal owner of the goods by
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Question 4 of 50
4. Question
Which of the following is engaged in commercial occupation?
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Question 5 of 50
5. Question
“Net 3 months” on an invoice means the buyer will
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Question 6 of 50
6. Question
The ratio between a country’s exports and her imports prices is the
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Question 7 of 50
7. Question
The charge paid to a ship owner for the unused part of a ship is known as
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Question 8 of 50
8. Question
Fidelity guarantee insurance will only cover
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Question 9 of 50
9. Question
In the absence of the bill of lading, which of the following is used o clear the goods
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Question 10 of 50
10. Question
A system of sales where goods are sold to the highest bidder is known as
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Question 11 of 50
11. Question
The term “fiduciary issue” means
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Question 12 of 50
12. Question
An insurance principle which prevents an insured from making profit when compensated is known as
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Question 13 of 50
13. Question
A retail outlet with many branches all dealing in similar line of goods is described as a
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Question 14 of 50
14. Question
A person who gave his building as a security for loan is known as a
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Question 15 of 50
15. Question
A firm that specialises in packing and shipping of goods is known as a
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Question 16 of 50
16. Question
An individual or company that engages in the transportation of any type of goods for a fee is called a
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Question 17 of 50
17. Question
Debentures which are secured by the fixed assets of a company are called
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Question 18 of 50
18. Question
The central bank sometimes calls for special deposits from the commercial banks in order to
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Question 19 of 50
19. Question
A principal member of the stock exchange who buys and sells securities on his own is a
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Question 20 of 50
20. Question
Consumer protection places an obligation on producers to ensure that their products
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Question 21 of 50
21. Question
The target of all marketing activities is the
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Question 22 of 50
22. Question
Small-scale retailers continue to exist in spite of the dominance of large firms because they
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Question 23 of 50
23. Question
Buildings and machinery purchased for use in business are examples of
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Question 24 of 50
24. Question
Olumide bought shares in a company with the following information
Authorised capital               N500,000
Issued capital                    N450,000
Nominal value                   N1.00
Market price                    N1.20
If the shares are offered to him at N15 the share is sold at
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Question 25 of 50
25. Question
Olumide bought shares in a company with the following information
Authorised capital               N500,000
Issued capital                    N450,000
Nominal value                   N1.00
Market price                    N1.20
Calculate the number of unissued share of the company
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Question 26 of 50
26. Question
The throwing of goods over board to prevent a ship from sinking is known as
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Question 27 of 50
27. Question
In insurance, risks that have no statistics for their calculations are
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Question 28 of 50
28. Question
The practice of selling goods in foreign countries at lower prices than obtainable in the exporting country is known as
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Question 29 of 50
29. Question
The entertainment industry is classified under
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Question 30 of 50
30. Question
Buying on impulse is encouraged by
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Question 31 of 50
31. Question
A fixed deposit account is beneficial to its holders because
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Question 32 of 50
32. Question
An amount paid by a bull who wishes to defer the purchase of shares to the next accounting period is
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Question 33 of 50
33. Question
Foreign trade is concerned with
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Question 34 of 50
34. Question
The distribution of goods creates
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Question 35 of 50
35. Question
The documents issued by the Registrar of companies which allows a public company to commence business is called
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Question 36 of 50
36. Question
A cheque bearing a date showing that it was issued more than six months ago is termed a
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Question 37 of 50
37. Question
A system of buying products from a machine is known as
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Question 38 of 50
38. Question
Carpentry is an activity classified under
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Question 39 of 50
39. Question
Which of the following is a function of marketing department in a firm?
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Question 40 of 50
40. Question
A system of buying goods by an agent where the supplier is determined by the principal is
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Question 41 of 50
41. Question
One of the functions of a central bank is to
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Question 42 of 50
42. Question
The issue of Certificate of Incorporation to a company means that it has
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Question 43 of 50
43. Question
The part of authorised capital of a company sold to shareholders is
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Question 44 of 50
44. Question
A person who contributes money to a partnership business and is also involved in its general supervision is called
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Question 45 of 50
45. Question
A business obtains part of its short-term capital from
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Question 46 of 50
46. Question
A postal service that allows a company’s customers to reply to its advertisements at the expense of the company is
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Question 47 of 50
47. Question
A voluntary association which consists of people who represents a cross section of business interests in an area is a
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Question 48 of 50
48. Question
When a ship overstays the allowed number of days at the port, it is made to pay
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Question 49 of 50
49. Question
The place where bankers meet daily to exchange cheques drawn on each other is known as
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Question 50 of 50
50. Question
An advertising campaign designed to sell one’s own products at the expense of other brands is
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