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Thursday, 12 November 2026
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Commerce Past Questions and Answers

Waec Commerce Questions

Question 806:
Which of the following is a legal tender?
  • A Central Bank cheque
  • B Bank notes
  • C Bankdraft
  • D Traveller's cheque
  • E Bill of exchange
View Answer & Explanation
Question 807:
Which of the following takes the shortest time and is the most accurate means of communication?
  • A Telephone
  • B Express letter
  • C Recorded delivery
  • D Airmail letter
  • E Telegraph
View Answer & Explanation
Question 808:
When an assured is unable to honor his obligation in an insurance contract thereby terminating it before maturity he could only receive
  • A Indemnity
  • B The sum insured
  • C The surrender value
  • D Compensation
  • E Premium
View Answer & Explanation
Question 809:
Assets of a business which cannot easily be changed into cash are known as
  • A Floating capital
  • B Fixed capital
  • C Working capital
  • D Paid-up capital
  • E Current capital
View Answer & Explanation
Question 810:
The imposition of high tariff on imported goods by the customs authority is to
  • A Protect businessmen
  • B Encourage imports
  • C Encourage the consumption of foreign goods
  • D Discourage exports
  • E Protect infant industries
View Answer & Explanation