WAEC - Commerce (2014)
1
A price quotation which includes all the expenses involved in loading the goods into a ship is
2
Shares, bonds, stocks and debentures traded on the stock exchange are collectively called
3
In a hire purchase contract, the customer becomes the legal owner of the goods by
Válasz(A)
paying the last installment
4
Which of the following is engaged in commercial occupation?
5
"Net 3 months" on an invoice means the buyer will
Válasz(B)
gets discount if he pays within 3 months
6
The ratio between a country's exports and her imports prices is the
7
The charge paid to a ship owner for the unused part of a ship is known as
8
Fidelity guarantee insurance will only cover
9
In the absence of the bill of lading, which of the following is used o clear the goods
10
A system of sales where goods are sold to the highest bidder is known as
11
The term "fiduciary issue" means
Válasz(A)
money issued without gold backing
12
An insurance principle which prevents an insured from making profit when compensated is known as
13
A retail outlet with many branches all dealing in similar line of goods is described as a
14
A person who gave his building as a security for loan is known as a
15
A firm that specializes in packing and shipping of goods is known as a
16
Which of the following is a function of marketing department in a firm?
Válasz(A)
Add value to goods and services
17
An individual or company that engages in the transportation of any type of goods for a fee is called a
18
Debentures which are secured by the fixed assets of a company are called
19
The central bank sometimes calls for special deposits from the commercial banks in order to
20
A principal member of the stock exchange who buys and sells securities on his own is a
21
Consumer protection council places an obligation on producers to ensure that their products
22
The target of all marketing activities is the
23
Small-scale retailers continue to exist in spite of the dominance of large firms because they
24
Buildings and machinery purchased for use in business are examples of
25
The throwing of goods over board to prevent a ship from sinking is known as
26
In insurance, risks that have no statistics for their calculations are
27
The practice of selling goods in foreign countries at lower prices than obtainable int he exporting country is known as
28
The entertainment industry is classified under
29
Buying on impulse is encouraged by
30
A fixed deposit account is beneficial to its holders because
Válasz(C)
it attracts higher interest rate
31
An amount paid by a bull who wishes to defer the purchase of shares to the next accounting period is
32
Foreign trade is concerned with
Válasz(D)
buying and selling of goods and services among countries
33
The distribution of goods creates
34
The documents issued by the Registrar of companies which allows a public company to commence business is called
35
A cheque bearing a date showing that it was issued more than six months ago is termed a
36
A system of buying products from a machine is known as
37
Carpentry is an activity classified under
38
A system of buying goods by an agent where the supplier is determined by the principal is
39
One of the functions of a central bank is to
Válasz(A)
perform supervisory role among all the banks in the country
40
The issue of Certificate of Incorporation to a company means that it has
41
The part of authorized capital of a company sold to shareholders is
42
A person who contributes money to a partnership business and is also involved in its general supervision is called
43
A business obtains part of its short-term capital from
44
A postal service that allows a company's customers to reply to its advertisements at the expense of the company is
45
A voluntary association which consists of people who represents a cross section of business interests in an area is a
