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Friday, 13 November 2026
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Commerce Past Questions and Answers

Waec Commerce Questions

Question 1371:
Which of the following is an intangible asset of a firm
  • A Goodwill
  • B Reserve
  • C Skilled personnel
  • D Rights issue
View Answer & Explanation
Question 1372:
The net profit of a business is determined by
  • A Deducting cost of goods sold from sales
  • B Deducting purchases from sales
  • C Adding commissions recieved to gross profit
  • D Deducting all expenses from gross profit and other income
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Question 1373:
An organization formed mainly by traders on the same line of business is known as
  • A Trade union
  • B Cooperative society
  • C Trade association
  • D Chamber of commerce
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Question 1374:
A bank's undertaking to pay an exporter on behalf of an importer is a
  • A Documentary credit
  • B Letter of credit
  • C Letter of hypothecation
  • D Bill of exchange
View Answer & Explanation
Question 1375:
Who among the following cannot be regarded as an itinerant trader
  • A Gypsy
  • B Barrow boy
  • C Pedlar
  • D Stall owner
View Answer & Explanation