Poscholars image

POSCHOLARS

Poscholars image
HomeOnline QuizWAEC/GCE/NECOJamb UpdatesScholarshipsPost UTMEStudy Guides

waec/wassce past questions and answers for COMMERCE-2023

Jun 30 2024 10:46:00 AM

Osason

WAEC/GCE/NECO

2023 Commerce objectives and paper 2 for WASSCE(WAEC)

paragraph
Never in the history of education has access to educational resources been more available. This is a great opportunity for wassce/waec student to explore. With globalisation and digitalisation of subject content, it is possible for any prospective WASSCE candidate to prepare for any exams that will be written in few weeks time.
paragraph
In this article, I have Written down 50 questions and answers including pdf which contain the Commerce paper 2 from WASSCE (WAEC) for Commerce 2023. This will guide you to understand the pattern WAEC follows when setting WASSCE questions for Commerce. Help yourself by going through each question and answer to prepare yourself for the real exam. I wish you success ahead.
paragraph
You can study the 50 (fifty) WASSCE Commerce past questions and answer for 2023 by checking the content below or using the table of content below to navigate to the number of your choice
paragraph
Table of Contents
  1. WASSCE/WAEC Commerce (2023) Questions and Answers 1 - 10
  2. WASSCE/WAEC Commerce (2023) Questions and Answers 11 - 20
  3. WASSCE/WAEC Commerce (2023) Questions and Answers 21 - 30
  4. WASSCE/WAEC Commerce (2023) Questions and Answers 31 - 40
  5. WASSCE/WAEC Commerce (2023) Questions and Answers 41 - 50
  6. Download WASSCE/WAEC Commerce pdF (2023) Paper 2 (essay questions and answer 1 - 8)
paragraph

WASSCE/WAEC Commerce (2023) Questions and Answers 1 - 10

paragraph
1. Buying and selling products through a network of digital devices is
paragraph
(a) e-transfer
paragraph
(b) e-payment
paragraph
(c) e-mail
paragraph
(d) e-commerce
paragraph
The correct answer is: (d) e-commerce
paragraph
2. Which of the following is not a factor of production?
paragraph
(a) Staffing
paragraph
(b) Land
paragraph
(c) Labour
paragraph
(d) Capital
paragraph
The correct answer is: (a) Staffing
paragraph
3. Industrial, commercial and service are types of
paragraph
(a) Specialisation
paragraph
(b) Occupation
paragraph
(c) Manufacturing
paragraph
(d) Extraction
paragraph
The correct answer is: (b) Occupation
paragraph
4. The reward for capital is
paragraph
(a) Rent
paragraph
(b) Profit
paragraph
(c) Interest
paragraph
(d) Dividend
paragraph
The correct answer is: (b) Profit
paragraph
5. A document in which the internal regulations of a company are stated is
paragraph
(a) Partnership deed
paragraph
(b) Memorandum of Association
paragraph
(c) Certificate of Incorporation
paragraph
(d) Articles of Associations
paragraph
The correct answer is: (d) Articles of Associations
paragraph
6. A business that can obtain capital through the sale fo shares is a
paragraph
(a) Sole proprietorship
paragraph
(b) Public corporation
paragraph
(c) Public company
paragraph
(d) Cooperative society
paragraph
The correct answer is: (c) Public company
paragraph
7. A problem associated with barter is
paragraph
(a) Difficulty in collecting debt
paragraph
(b) Inability to measure what is to be exchanged
paragraph
(c) Inability to produced enough goods
paragraph
(d) Poor road network delaying transportation of goods
paragraph
The correct answer is: (b) Inability to measure what is to be exchanged
paragraph
8. Dissolution of a partnership could arise from
paragraph
(a) Fall in output
paragraph
(b) Death of a member
paragraph
(c) Non-access to capital
paragraph
(d) Increase in market share
paragraph
The correct answer is: (b) Death of a member
paragraph
9. A source of capital to a cooperative society is
paragraph
(a) Contribution
paragraph
(b) Debenture
paragraph
(c) Ordinary share
paragraph
(d) Retained profit
paragraph
The correct answer is: (a) Contribution
paragraph
10. Which of the following activities does not belong to the extractive industry?
paragraph
(a) Barbing
paragraph
(b) Drilling
paragraph
(c) Farming
paragraph
(d) Mining
paragraph
The correct answer is: (a) Barbing
paragraph

WASSCE/WAEC Commerce (2023) Questions and Answers 11 - 20

paragraph
11. The excess value of total assets over total liabilities is
paragraph
(a) Working capital
paragraph
(b) Paid up capital
paragraph
(c) Capital owned
paragraph
(d) Borrowed capital
paragraph
The correct answer is: (b) Paid up capital
paragraph
12. A voluntary association of businessmen who are not in the same line of business is a
paragraph
(a) Bureau de change
paragraph
(b) Trade union
paragraph
(c) Trade association
paragraph
(d) Chamber of commerce
paragraph
The correct answer is: (d) Chamber of commerce
paragraph
13. A similarity of a private and public company is that they
paragraph
(a) Are required to publish their final accounts
paragraph
(b) Have equal number of members
paragraph
(c) Receive certificate of incorporation
paragraph
(d) Sell shares on the stock exchange
paragraph
The correct answer is: (c) Receive certificate of incorporation
paragraph
14. Which of the following is not a type of security?
paragraph
(a) Debenture
paragraph
(b) Overdraft
paragraph
(c) Share
paragraph
**(d) Stock **
paragraph
The correct answer is: (b) Overdraft
paragraph
15. An organization that could strive for improvement in electricity and telephone services to users is
paragraph
(a) A consumers' association
paragraph
(b) An employers' association
paragraph
(c) A manufacturers' association
paragraph
(d) A trade association
paragraph
The correct answer is: (a) A consumers' association
paragraph
16. The business in which sale of goods involves use of invoice is a
paragraph
(a) Chain store
paragraph
(b) Mobile shop
paragraph
*(c) Shopping mall
paragraph
(d) Tied shop
paragraph
The correct answer is: (a) Chain store
paragraph
17. The arrangement for the conveyance of goods abroad is performed by the
paragraph
(a) Ports authority
paragraph
(b) Customs and excise authority
paragraph
(c) Chamber of commerce
paragraph
(d) Clearing and forwarding agents
paragraph
The correct answer is: (d) Clearing and forwarding agents
paragraph
18. One of the barriers to foreign trade is
paragraph
(a) Trade liberalisation
paragraph
(b) Removal of tariff
paragraph
(c) Memorandum of understanding
paragraph
(d) Imposition of embargo
paragraph
The correct answer is: (d) Imposition of embargo
paragraph
19. The term 2%/15 net 30 represents a
paragraph
(a) Cash discount
paragraph
(b) Quantity discount
paragraph
(c) Seasonal discount
paragraph
(d) Trade discount
paragraph
The correct answer is: (d) Trade discount
paragraph
20. The passing of laws by an arm of government to regulate society is the function of the
paragraph
Use the diagram below to answer questions 20 to 22
paragraph
Crossed cheque

paragraph
(a) Warrant
paragraph
(b) Money
paragraph
(c) Cheques
paragraph
(d) Deposit slip
paragraph
The correct answer is: (c) Cheques
paragraph

WASSCE/WAEC Commerce (2023) Questions and Answers 21 - 30

paragraph
21. The two lines on the instrument shows that it is
paragraph
(a) Paid
paragraph
(b) Crossed
paragraph
(c) Cancelled
paragraph
(d) Altered
paragraph
The correct answer is: (b) Crossed
paragraph
22. The instrument will not be valid on
paragraph
(a) October 25, 2023
paragraph
(b) September 25, 2023
paragraph
(c) July 25, 2023
paragraph
(d) June 25, 2023
paragraph
The correct answer is: (d) June 25, 2023
paragraph
23. The rate at which a country's exports exchange for its imports is
paragraph
(a) Terms of trade
paragraph
(b) Terms of payment
paragraph
(c) Balance of trade
paragraph
(d) Balance of payment
paragraph
The correct answer is: (c) Balance of trade
paragraph
24. When a seller wishes to be paid before supplying goods, he would send the buyer a
paragraph
(a) Consular invoice
paragraph
(b) Consignment note
paragraph
(c) Credit note
paragraph
(d) Proforma invoice
paragraph
The correct answer is: (c) Credit note
paragraph
25. A bill of lading that is tagged clean means that the goods being delivered are
paragraph
(a) Paid
paragraph
(b) On credit
paragraph
(c) Not damaged
paragraph
(d) Duty free
paragraph
The correct answer is: (d) Duty free
paragraph
26. If opening and closing inventories of a business are D500 and D300 respectively and cost of sales is D1200, rate of turn over will be
paragraph
(a) 4.0 times
paragraph
(b) 3.0 times
paragraph
(c) 2.4 times
paragraph
(d) 1.5 times
paragraph
The correct answer is: (c) 2.4 times
paragraph
27. The function of money that makes it generally acceptable is
paragraph
(a) Medium of exchange
paragraph
(b) Standard of deferred payment
paragraph
(c) Store of value
paragraph
(d) Unit of account
paragraph
The correct answer is: (a) Medium of exchange
paragraph
28. A reduction in the value of a country's currency in relation to that of other countries is
paragraph
(a) Inflation
paragraph
(b) Deflation
paragraph
(c) Devaluation
paragraph
(d) Revaluation
paragraph
The correct answer is: (c) Devaluation
paragraph
29. The penalty paid for not off-loading goods at a port within the stipulated time is
paragraph
(a) Charge
paragraph
(b) Demurrage
paragraph
(c) Dock due
paragraph
(d) Freight
paragraph
The correct answer is: (d) Freight
paragraph
30. An advantage of road transport over other means of transport is that
paragraph
(a) Canteen services are provided during the course of transportation
paragraph
(b) Packing and loading is easy as activities are handled by experts
paragraph
(c) Specific vehicles could be used to carry certain loads
paragraph
(d) Terminal handling is eliminated by door-to-door delivery
paragraph
The correct answer is: (c) Specific vehicles could be used to carry certain loads
paragraph

WASSCE/WAEC Commerce (2023) Questions and Answers 31 - 40

paragraph
31. A factor to be considered in selecting a means of transporting fish is the
paragraph
(a) Supply of fish
paragraph
(b) Nature of the fish
paragraph
(c) Demand for fish
paragraph
(d) Cost of the fish
paragraph
The correct answer is: (b) Nature of the fish
paragraph
32. The bank that conducts research on an economy, thereby identifying obstacles to growth is growth is the
paragraph
(a) Central bank
paragraph
(b) Commercial bank
paragraph
(c) Development bank
paragraph
(d) Mortgage bank
paragraph
The correct answer is: (c) Development bank
paragraph
33. An advantage of advertising is that
paragraph
(a) Awareness is created on the existence of products
paragraph
(b) Distribution channels for products are improved
paragraph
(c) Prices of products are reduced
paragraph
(d) Quality of products is improved
paragraph
The correct answer is: (a) Awareness is created on the existence of products
paragraph
34. The means by which a firm obtains information before introducing new products is
paragraph
(a) Advertising
paragraph
(b) Market research
paragraph
(c) Market Segmentation
paragraph
(d) Promotion
paragraph
The correct answer is: (b) Market research
paragraph
35. A duty of the principl to his agent is to
paragraph
(a) Stop the sale of good in transit
paragraph
(b) Renegotiate agreements made by the agent
paragraph
(c) Pay the agent for services rendered
paragraph
(d) Disclose confidential information
paragraph
The correct answer is: (c) Pay the agent for services rendered
paragraph
36. An element of a valid contract is
paragraph
(a) Operation of law
paragraph
(b) Performance
paragraph
(c) Capacity to contract
paragraph
(d) Breach
paragraph
The correct answer is: (c) Capacity to contract
paragraph
37. An example of after-sales service is
paragraph
(a) Sorting and grading of goods
paragraph
(b) Provision of price list and terms
paragraph
(c) Granting of discount
paragraph
(d) Free replacement of parts
paragraph
The correct answer is: (a) Sorting and grading of goods
paragraph
38. Which oft the following modes of transport could be used to convey both liquid and gas?
paragraph
(a) Tramp
paragraph
(b) Tanker
paragraph
(c) Ferry
paragraph
(d) Aeroplane
paragraph
The correct answer is: (b) Tanker
paragraph
39. Advertising designed to sell more of a company's products than other brands is
paragraph
(a) Competitive
paragraph
(b) Indirect
paragraph
(c) Informative
paragraph
(d) Persuasive
paragraph
The correct answer is: (a) Competitive
paragraph
40. In a contract of sale, the amount deposited with the seller for a particular product by a buyer is
paragraph
(a) Acceptance
paragraph
(b) Counter offer
paragraph
(c) Consideration
paragraph
(d) Warranty
paragraph
The correct answer is: (c) Consideration
paragraph

WASSCE/WAEC Commerce (2023) Questions and Answers 41 - 50

paragraph
41. The use of brand names and trademarks is to
paragraph
(a) Control the supply of goods
paragraph
(b) Make after-sales service possible
paragraph
(c) Prevent imitation by competitors
paragraph
(d) Stabilise the prices of goods
paragraph
The correct answer is: (c) Prevent imitation by competitors
paragraph
42. A disadvantage of privatisation is that
paragraph
(a) There is decline in the supply of goods
paragraph
(b) There is less efficiency in the production of goods
paragraph
(c) Public interest outweighs the profit motive
paragraph
(d) Income is unevenly distributed
paragraph
The correct answer is: (d) Income is unevenly distributed
paragraph
43. Operating a state-owned enterprise with the intention of making more profit is
paragraph
(a) Commercialisation
paragraph
(b) Deregulation
paragraph
(c) Nationalisation
paragraph
(d) Privatisation
paragraph
The correct answer is: (a) Commercialisation
paragraph
44. The department that ensures that products are made available to consumers is
paragraph
(a) Finance
paragraph
(b) Marketing
paragraph
(c) Production
paragraph
(d) Purchases
paragraph
The correct answer is: (c) Production
paragraph
45. Which of the following is not a form of sales promotion?
paragraph
(a) Free samples
paragraph
(b) Demonsrations
paragraph
(c) Cash on delivery
paragraph
(d) Buy one get one free
paragraph
The correct answer is: (c) Cash on delivery
paragraph
46. Divesting goverment interest in a business to
paragraph
(a) Privatisation
paragraph
(b) Nationalisation
paragraph
(c) Deregulation
paragraph
(d) Commercialisation
paragraph
The correct answer is: (b) Nationalisation
paragraph
47. The management function that is concerned with coordinating business resources efficiently is
paragraph
(a) Controlling
paragraph
(b) Motivation
paragraph
(c) Planning
paragraph
(d) Organising
paragraph
The correct answer is: (c) Planning
paragraph
48. An organisational chart is used to
paragraph
(a) Determine the departmental objectives and targets
paragraph
(b) Implement policies on staff welfare
paragraph
(c) Measure variation on staff performance
paragraph
(d) Show the hierarchy of staff
paragraph
The correct answer is: (d) Show the hierarchy of staff
paragraph
49. Which of the following countries is not a member of the European Union?
paragraph
(a) Bolivia
paragraph
(b) Denmark
paragraph
(c) France
paragraph
(d) Greece
paragraph
The correct answer is: (a) Bolivia
paragraph
50. One of the aims of ECOWAS is to
paragraph
(a) Encourage foreign investments
paragraph
(b) Ensure production of quality goods
paragraph
(c) Improve transportation and communication
paragraph
(d) Promote privatisation policies
paragraph
The correct answer is: (c) Improve transportation and communication
paragraph

Download WASSCE/WAEC Commerce pdF (2023) Paper 2 (essay questions and answer 1 - 8)

We have provided a pdf where you can practice wassce Paper 2 for Commerce 2022. To download the pdf right away,
paragraph
Without doubt, I believe you are pleased with the questions and answers on WASSCE/WAEC Commerce 2023. you saw above. We have compiled this to ensure students have access to resources that can help them blast their WASSCE exam once and for all. If you have any comment or you observed any flaw do well to leave a comment in the comment-box below and we will get back to you
paragraph
I recommend you check my article on the following:
paragraph
- wassce/waec past questions and answers for Commerce 2022
paragraph
This is all we can take on “waec/wassce past questions and answers for Commerce-2023“.
paragraph

POSCHOLARS TEAM.

Share this post with your friends on social media if you learned something or was informed.

Leave a Reply
Your email address will not be published. Required fields are marked *

Save my name and email in this browser for the next time I comment.

Subscribe to our newsletter so you could get the latest post via E-mail

Recent Posts:


Delsu post utme registration, starting date, Closing date, Post Utme result and Exam
WAEC(WASSCE) result checker - how to check waec result
Download WAEC (WASSCE) syllabus in pdf for all subject
WAEC (GCE) registration 2024 starting date, closing date, WAEC (GCE) form price and Waec updates

Stay Updated:

Like us on Facebook

Explore


Quick Links