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Wednesday, 11 November 2026
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Commerce Past Questions and Answers

Waec Commerce Questions

Question 121:
Which of the following statements best describes net profit? The excess of
  • A Total revenue over total expenditure
  • B Total capital income over expenditure
  • C Sales over purchases
  • D Total capital formation over capital consumption
  • E Total expenditure over total revenue
View Answer & Explanation
Question 122:
A business is in existence primarily to?
  • A Make profit
  • B Provide goods amd services
  • C Provide employment
  • D Complete with others in business
  • E Sell goods at reasonable prices
View Answer & Explanation
Question 123:
A number of shops under one roof is the feature of a?
  • A Supermarkets
  • B Chain stores
  • C Department store
  • D Mail order business
  • E Shopping centre
View Answer & Explanation
Question 124:
An agreement between two parties which will give rise to rights and obligation is known as?
  • A A warrant
  • B A contract
  • C A consideration
  • D An offer
  • E An acceptance
View Answer & Explanation
Question 125:
Auctions and Tenders become binding when they are?
  • A Accepted
  • B Offered
  • C Received
  • D Advertised
  • E Communicated
View Answer & Explanation