Questions And Answers You Should Expect In WAEC 2019 Commerce Exam

Last updated on December 27th, 2018 at 01:03 pm

WAEC 2019 Commerce question and Answers to the Objectives (OBJ) and Theory questions is available here. Are you searching for 2019 WAEC Commerce expo, WAEC expo on Commerce 2019, today WAEC Commerce solutions…then this page is for you.

Waec commerce answers 2019
WAEC Commerce answers

This page will provide you with waec 2019 Commerce question and answers to objectives and Essay questions. There is also WAEC Management in Living paper & Animal husbandry Practical solutions. You should consider checking it out.

The West African Examination Council (WAEC) is an Examination board that conduct the Senior School Certificate Examination (SSCE) that is required for Admission into any higher institution in Nigeria.

According to the 2018 WAEC Timetable, The SSCE WAEC 2019 Commerce paper 2 & 1 (Essay & Objectives) is scheduled to hold today as follows;

Tuesday, 24th April, 2018

Commerce 2 (Essay) – 2:00 p.m. – 4:00 p.m.

Commerce 1 (Objective) – 4:00 p.m. – 4:50 p.m.

If you are searching for the WAEC 2019 Commerce questions and answers to objectives and Essay questions. Below are the questions and answers to WAEC 2019 Commerce paper 1 & 2. Note this page will only provide you with the Waec 2019 Commerce sample questions and past questions and answers to objectives and essay questions. It will help give you an insight of how WAEC Commerce question will be set and question you should expect in WAEC Commerce 2019.

WAEC 2019 Commerce Question and Answers to Objectives (OBJ) and Essay (Theory) Questions

2019 WAEC Commerce Objectives Questions and Answers

WAEC 2019 Commerce Practice Questions

1. Paper Money Originated in form of receipt given by

A. Money Lenders
B. Goldsmiths
C. Bankers
D. Traders
E. Thrift societies

Answer: B

2. The Process of buying, selling, and distribution of goods and services is known as

A. Retail trade
B. Commerce
C. Marketing Concept
D. Marketing Mix
E. Wholesale trade

Answer: B

3. Which of the following statement is true of limited partnership?

A. Every member is a limited partner
B. All members are general partners
C. All members are limited liability
D. There is at least one ordinary partner
E. Limited and ordinary partners must be equal in number

Answer: D

4. A shipping company’s document detailing the charges for carrying a particular cargo for a specified journey is known as

A. Dock warrant
B. Freight note
C. Carriage forward
D. Weight note
E. Credit note

Answer: B

5. Which of the following documents contains the complete information on goods available in the wholesaler’s warehouse?

A. Catalogue
B. Order
C. Cnsignment note
D. Invoice
E. Delivery note

Answer: A

6. Any Powers exercised by a company in pursuance of objects not authorized by the Memorandum of Association is regarded as?

A. A trespass
B. A nuisance
C. Ultra Virus
D. Uberrimae fidei
E. Caveat emptor

Answer: C

7. Through which of the following does the Central Bank carry out the monetary policy of the country?

A. Discounting Bills
B. Bank rate
C. Granting Overdraft
D. Acting as lender of last resort
E. Acting as banker to commercial banks

Answer: B

8. Which of the following is concerned with promoting favourable image of an organization?

A. Consumer Sovereignty
B. Public relation
C. Marketing research
D. Market segmentation

Answer: A

9. In which of the following business units are the owners mostly the customers?

A. Co-operative
B. Partnerships
C. Public Co-operations
D. Limited liability company
E. Sole Proprietorship

Answer: A

10. The Law covering the operations of companies and partnership in Nigeria is the?

A. Nigerian Companies Decree
B. Nigerian Partnership Act
C. Nigerian Enterprises Promotion Decree
D. Companies and Allied Matters Decree
E. Sale of goods Act

Answer: D

11. Small-scale retail trade attracts a lot of new entrepreneurs in West Africa because?

A. Many people has had good training in retail trade
B. It is easy to succeed with the business
C. Banks are always ready to lend to retailers
D. Only a small amount of capital is required to start the business
E. Government exempts retailers from paying tax

Answer: D

12. An Association of businessmen engaged in both commerce and industry is called a?

A. Trade Association
B. Trade Union
C. Chambers of Commerce
D. Trust
E. Cartel

Answer: C

13. Which of the following is not a barrier to the smooth functioning of ECOWAS?

A. Different Currencies
B. Different Languages
C. Adequate Population
D. Political Crisis
E. Fear of Domination

Answer: C

14. A firm that accepts a portion of the risk involve in an insurance contract is?

A. a broken
B. an actuary
C. speculator
D. an underwriter
E. an assessor

Answer: D

15. Which of the following are functions of a market?

A. Buying, financing, selling and transporting
B. Sorting, grading, managing, and storage
C. Risk-bearing storage, production, and promotion
D. Organizing, Risk bearing, transporting and storage
E. Production, Promotion, distribution, and pricing.

Answer: E

16. The act of keeping products in good condition until they are needed is?

A. Insurance
B. Warehousing
C. Communication
D. Advertising

Answer: B

17. Which of the following is not a function of the Ports Authority?

A. Ensuring Safe movement of ships
B. Collecting Imports and exports duties
C. Providing warehousing services
D. Ensuring Law and order in the harbours

Answer: B

18. Which of the following is not a means of payment in foreign trades?

A. Telegraphic transfer
B. Cheque
C. Letter of Credit
D. Bill of exchange

Answer: B

19. A counter off in a contract is regarded as?

A. An acceptance
B. An invitation to treat
C. a rejection
D. a consideration

Answer: C

20. In which of the following classes of occupation would you place a doctor?

A. Extractive
B. Commercial
C. Direct services
D. Indirect Services

Answer: C

WAEC 2019 Commerce Theory Questions

1. a) Define the term commerce?

b) State and explain the importance of any five ancillary services to trade?

2. a) Messrs Ola and Musa are both merchants. Ola trades on cash basis only while Musa allows credit. Give four reasons each why Ola insists on cash payment and Musa allows credit sales.

b) Differentiate between cash discount and trade discount.

3. Explain intensively the following terms;
a) Marine Insurance
b) Accident Insurance
c) Group Insurance
d) Export Credit
e) Fire Insurance

4. a) Give any five features which are common to both cooperative societies and private limited companies

b) Explain any Five differences between cooperative societies and private limited companies

5. a) Explain five reasons for government participation in business enterprises

b) State four demerits of government participation in business enterprises

Note: There is nothing like WAEC Commerce questions and answers to the WAEC Commerce Exam paper you’re yet to write. The only thing that will help you pass your WAEC Commerce Exam very well is practicing WAEC Commerce Past questions above and online on the WAEC E-learning Portal. Please, disregard any information on any website asking you to pay money for them to provide you with WAEC 2019 Commerce question and answers.

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