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Thursday, 12 November 2026
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Commerce Past Questions and Answers

Waec Commerce Questions

Question 661:
In marine insurance, the deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
  • A A constructive loss
  • B A partial loss
  • C A general average loss
  • D A total loss
  • E An actual total loss
View Answer & Explanation
Question 662:
Tax levied on goods at each stage of their movement from production to the final consumer is known as
  • A Customs drawback
  • B Ad valorem duty
  • C Specific tax
  • D Value added tax
  • E Tariff
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Question 663:
An association of businessmen engaged in both commerce and industry is called
  • A Trade association
  • B Trade union
  • C Chamber of commerce
  • D Trust
  • E Cartel
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Question 664:
When the government decides to run a statutory corporation as a profit-oriented enterprise, this is known as
  • A Nationalization
  • B Commercialization
  • C Take-over bid
  • D Privatization
  • E Indegenization
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Question 665:
The primary aim of commerce is to
  • A Produce goods and services
  • B Warehouse goods
  • C Advertise goods and services
  • D Finance goods and services
  • E Exchange goods and services
View Answer & Explanation