Waec Commerce 2010 Past Questions and Answers

Question 51:

• WAEC 2010

Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.
What is the cost of goods sold

A. #30,000
B. #25,000
C. #20,000
D. #15,000

Question 52:

• WAEC 2010

Which of the following mode of transport involves the use of tramps?

A. Land transport
B. Sea transport
C. Air transport
D. Pipeline

Question 53:

• WAEC 2010

(a) Define commerce.
(b) Explain six functions of commerce in an economy.

Question 54:

• WAEC 2010

(a) What is production?
(b) Explain the following factors of production: (i) land (ii) labour (iii) capital
(c) State three functions of an entrepreneur.

Question 55:

• WAEC 2010

(a) State four steps that can be taken by a customer opening a current account.
(b) Explain six functions of commercial banks.