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Thursday, 12 November 2026
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Commerce Past Questions and Answers

Waec Commerce Questions

Question 1151:
The rate at which a country's currency is converted to the currency of another country is known as?
  • A Terms of trade
  • B Terms of payment
  • C Exchange rate
  • D Bank rate
View Answer & Explanation
Question 1152:
Which of the following requires acceptances before it can be valid?
  • A Promissory note
  • B Bill of exchange
  • C Letter of credit
  • D Cheque
View Answer & Explanation
Question 1153:
A retail outlet meant to sell only a particular manufacturer's product known as a?
  • A Co-operative shop
  • B Chain store
  • C Department store
  • D Tied shop
View Answer & Explanation
Question 1154:
Which of the following requires acceptance before it can be valid?
  • A Promissory note
  • B Bill of exchange
  • C Letter of credit
  • D Cheque
View Answer & Explanation
Question 1155:
In international trade the direct exchange of goods for goods is?
  • A Bilateral trade
  • B Counter trade
  • C Multi lateral trade
  • D Entrepot trade
View Answer & Explanation