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Friday, 13 November 2026
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Commerce Past Questions and Answers

Waec Commerce Questions

Question 1551:
The exchange of goods and services among many countries is
  • A Multilateral trade
  • B Bilateral trade
  • C Counter trade
  • D Entrepot trade
View Answer & Explanation
Question 1552:
If a ship overstays its stipulated time at a port, it pays a charge known as
  • A Arbitrage
  • B Demurrage
  • C Dock due
  • D Toll
View Answer & Explanation
Question 1553:
A transaction where the buyer of a commodity becomes its legal owner after the payment of the last installment is
  • A A credit sale
  • B Factoring
  • C Hire purchase
  • D Leasing
View Answer & Explanation
Question 1554:
An agreement whereby the seller transfers or agrees to transfer the property in goods for a monetary consideration is a
  • A Contract of sale
  • B Hire purchase
  • C Conditional sale
  • D Party selling
View Answer & Explanation
Question 1555:
The main purpose of sending delivery notes along with goods is to
  • A Enable the goods to be checked on arrival
  • B Enable the buyer to pay the correct delivery charges
  • C Ensure the safe delivery of the goods
  • D Prevent the goods from being stolen in transit
View Answer & Explanation