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[ Post UTME Begins ]:
View The List Of Schools That Have Released 2026 Post-UTME Forms.
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Commerce Past Questions
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Introduction to Commerce
Meaning, scope, characteristics and functions of Commerce
History of Commerce
Relationship of Commerce with other areas of production
Importance of Commerce in the economy
Occupations
Meaning and Importance
Types of occupations: Industrial, commercial, direct and indirect services
Factors influencing choice of occupation
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Meaning and types: Primary, secondary, tertiary
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Inter-relationship between production and exchange
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Meaning and objectives of business
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Choice of business units
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Business Capital and Finance
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Sources of finance
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Role of Bureau de Change
Trade Associations and Economic Groups
Trade and manufacturer associations
Chambers of Commerce
Employers’, Consumers’ and Manufacturers’ associations
Economic groups: ECOWAS, IMF, IBRD, UNCTAD, etc.
Trade - Home Trade
Retail trade: Types, functions, advantages and disadvantages, trends
Wholesale trade: Types, functions
Warehousing: Types, functions
Channels of distribution
Trade - Foreign Trade
Balance of trade/payment, terms of trade
Export, import and entrepôt procedures and documents
Barriers to international trade
Roles of Customs, Excise, Ports Authority
Purchase and Sale of Goods
Documents: Enquiry, quotation, invoice, bill of lading, etc.
Terms of trade: Discounts, C.O.D., C.I.F., F.O.B.
Means and terms of payment
Aids to Trade
Advertising
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Finance and Financial Institutions
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Meaning, importance and functions
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Legal Aspects of Business
Simple contract
Agency, Sale of Goods Act, Hire Purchase Act
Employer/employee rights
Government regulations
Consumer protection
ICT in Commerce
Computer applications
ICT terms
E-commerce, E-banking, E-business
Business Environment and Social Responsibility
Types of environment
Safe products and pollution
Corporate social responsibility
Nationalisation, Indigenisation and Divestiture
Meaning, aims, advantages, disadvantages
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1906
Which of the following takes the shortest time and is the most accurate means of communication?
A.
Telephone
B.
Express letter
C.
Recorded delivery
D.
Airmail letter
E.
Telegraph
View Answer & Discuss
WAEC 1997
1907
When an assured is unable to honor his obligation in an insurance contract thereby terminating it before maturity he could only receive
A.
indemnity
B.
the sum insured
C.
the surrender value
D.
compensation
E.
premium
View Answer & Discuss
WAEC 1997
1908
Assets of a business which cannot easily be changed into cash are known as
A.
floating capital
B.
fixed capital
C.
working capital
D.
paid-up capital
E.
current capital
View Answer & Discuss
WAEC 1997
1909
The imposition of high tariff on imported goods by the customs authority is to
A.
protect businessmen
B.
encourage imports
C.
encourage the consumption of foreign goods
D.
discourage exports
E.
protect infant industries
View Answer & Discuss
WAEC 1997
1910
Who among the following has no right of ownership to a business organization?
A.
Shareholder
B.
Enterpreneur
C.
Partner
D.
Debenture holder
E.
Sole-proprietor
View Answer & Discuss
WAEC 1997
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