WAEC - Commerce (2005)

  • 1
    The form of trade practised by the early men was characterized by?
    პასუხი
    (C)
    exchange of goods for goods
  • 2
    Which of the following is an advantage of indigenization?
    პასუხი
    (C)
    Fosters self-reliance
  • 3
    Farming is an activity that falls under?
    პასუხი
    (C)
    extractive occupation
  • 4
    Which of the following coordinates other factors of production to achieve set objectives?
    პასუხი
    (C)
    Enterprenuer
  • 5
    Production is defined as?
    პასუხი
    (B)
    creation of utility
  • 6
    An advantage of a public limited company over a private one is the?
    პასუხი
    (B)
    easy transferability of shares
  • 7
    The distribution of profits based upon the level of patronage in the business is a common feature of?
    პასუხი
    (C)
    co-operative societies
  • 8
    The fee which the bank charges for services rendered to their current account customers is?
    პასუხი
    (D)
    interest
  • 9
    The fee which the bank charges for services rendered to their current account customers is?
    პასუხი
    (D)
    interest
  • 10
    Which of the following would not affect the form of a business unit?
    პასუხი
    (B)
    The type of business
  • 11
    Partnership form of business is most appropriate?
    პასუხი
    (D)
    where the liability of members is limited
  • 12
    The nominal value of a share is the same as its?
    პასუხი
    (D)
    face value
  • 13
    The nominal value of a share is the same as its?
    პასუხი
    (D)
    face value
  • 14
    Which of the following is an intangible assets of a firm?
    პასუხი
    (A)
    Goodwill
  • 15
    The net profit of a business is determined by?
    პასუხი
    (D)
    deducting all expenses from gross profit and other income
  • 16
    An organization formed mainly by traders on the same line of business is known as?
    პასუხი
    (C)
    trade association
  • 17
    A bank's undertaking to pay an exporter on behalf of an importer is a?
    პასუხი
    (D)
    bill of exchange
  • 18
    Who among the following cannot be regarded as an itinerant trader?
    პასუხი
    (A)
    Gypsy
  • 19
    Who among the following cannot be regarded as an itinerant trader?
    პასუხი
    (A)
    Gypsy
  • 20
    Which of the following will not be considered in choosing a channel of distribution?
    პასუხი
    (D)
    Quality of product
  • 21
    A manufacturer of goods that are seasonally will be in dire need of a?
    პასუხი
    (C)
    warehouse
  • 22
    A manufacturer of goods that are seasonally will be in dire need of a?
    პასუხი
    (C)
    warehouse
  • 23
    Which of the following is a feature peculiar to multiple shops?
    პასუხი
    (B)
    Self service
  • 24
    Which of the following is a feature peculiar to multiple shops?
    პასუხი
    (B)
    Self service
  • 25
    Terms of trade is the?
    პასუხი
    (B)
    rate at which a country's exports exchange for its imports
  • 26
    Which of the following encourages trade between regions?
    პასუხი
    (D)
    Differences in natural resources
  • 27
    Which of the following is not suitable for fire purchase?
    პასუხი
    (A)
    Textiles
  • 28
    The form of trade practiced by the early men was characterized by
    პასუხი
    (C)
    exchange of goods for goods
  • 29
    Which of the following is an advantage of indigenization ?
    პასუხი
    (D)
    Leads to monopoly of power
  • 30
    Farming is an activity that falls under?
    პასუხი
    (C)
    extractive occupation
  • 31
    Which of the following coordinates other factors of production to achieve set objectives?
    პასუხი
    (B)
    Labour
  • 32
    Production is defined as
    პასუხი
    (B)
    creation of utility
  • 33
    An advantage of a public limited company over a private one is the
    პასუხი
    (A)
    limited liability of share holders
  • 34
    The distribution of profits based upon the level of patronage in the business is a common feature of
    პასუხი
    (C)
    co-operative societies
  • 35
    The fee which the bank charges for services rendered to their current account customers is
    პასუხი
    (C)
    minimum lending rate
  • 36
    Which of the following would not affect the form of a business unit
    პასუხი
    (B)
    the type of business
  • 37
    Partnership form of business is most appropriate
    პასუხი
    (C)
    where very large capital is required
  • 38
    Partnership form of business is most appropriate
    პასუხი
    (C)
    where very large capital is required
  • 39
    The nominal capital of a public limited company is made up of 400,000 ordinary shares of 50k each.
    The Board of Directors decided to issue 50% of it for subscription by the public.

    The authorized share capital is
    პასუხი
    (B)
    #200,000
  • 40
    The nominal capital of a public limited company is made up of 400,000 ordinary shares of 50k each.
    The Board of Directors decided to issue 50% of it for subscription by the public.

    The reserved capital is
    პასუხი
    (A)
    #300,000
  • 41
    The nominal value of a share is same as its
    პასუხი
    (D)
    face value
  • 42
    Which of the following is an intangible asset of a firm
    პასუხი
    (C)
    Skilled personnel
  • 43
    The net profit of a business is determined by
    პასუხი
    (D)
    deducting all expenses from gross profit and other income
  • 44
    An organization formed mainly by traders on the same line of business is known as
    პასუხი
    (B)
    cooperative society
  • 45
    A bank's undertaking to pay an exporter on behalf of an importer is a
    პასუხი
    (B)
    letter of credit
  • 46
    Who among the following cannot be regarded as an itinerant trader
    პასუხი
    (D)
    Stall owner
  • 47
    Which of the following will not be considered in choosing a channel of distribution?
    პასუხი
    (D)
    Quality of product
  • 48
    A manufacturer of goods that are seasonally demanded will be in dire need of a
    პასუხი
    (B)
    suitable means of transport
  • 49
    Which of the following is a feature peculiar multiple shops?
    პასუხი
    (C)
    Central Buying
  • 50
    Terms of trade is the
    პასუხი
    (B)
    rate at which a country's exports exchange for its imports
  • 51
    Which of the following encourages trade between regions?
    პასუხი
    (D)
    Differences in natural resources
  • 52
    Which of the following is not suitable for hire purchase?
    პასუხი
    (A)
    Textiles
  • 53
    A seller quoting his goods loco price means that
    პასუხი
    (D)
    the price includes cost, insurance and freight
  • 54
    Which of the following is the correct sequence in which the following documents are used?
    პასუხი
    (D)
    Order, delivery note, invoice, debit note, statement
  • 55
    A set of measures pursued by an organization in order to maintain goodwill in its environment is referred to as
    პასუხი
    (A)
    human relations
  • 56
    Which of the following organizations aims at providing relief for countries facing adverse balance of payment?
    პასუხი
    (D)
    I.M.F
  • 57
    C.O.D transactions are associated with
    პასუხი
    (A)
    mail order firms
  • 58
    Postage marks can be printed on letters and parcels using
    პასუხი
    (D)
    franking machine
  • 59
    If the amount of dividend paid varies according to the level of profit; what type of share is involved?
    პასუხი
    (D)
    Ordinary share
  • 60
    A retail outlet is described as a multiple shop when it
    პასუხი
    (A)
    has many shops under one roof
  • 61
    Time policy in insurance is associated with
    პასუხი
    (D)
    goods in transit
  • 62
    When a quotation is marked C.W.O , it means
    პასუხი
    (A)
    no credit facility is allowed
  • 63
    Which of the following is a function of a stock broker
    პასუხი
    (D)
    Granting of loans to investors
  • 64
    The people involved in the formation of new companies are called?
    პასუხი
    (C)
    shareholders
  • 65
    Commercial activities among West African countries are greatly hindered by
    პასუხი
    (B)
    lack of an acceptable medium of exchange
  • 66
    Which of the following makes it an offense for a trader to make untrue statement about his goods?
    პასუხი
    (A)
    Consumerism
  • 67
    Which of the following is a means by which a contract of agency could be terminated?
    პასუხი
    (D)
    Payment of commission
  • 68
    Which of the following would be necessary before the introduction of a new product?
    პასუხი
    (C)
    Market research
  • 69
    People who are against advertising claim that it
    პასუხი
    (D)
    promotes competion among firms
  • 70
    A distinctive feature of a personal selling is the
    პასუხი
    (A)
    face to face meeting of seller and buyer
  • 71
    The practice whereby a firm prepays the postage for the response of its customers is known as
    პასუხი
    (B)
    post restante
  • 72
    Which of the following is not provided by the post office?
    პასუხი
    (A)
    Recorded delivery service
  • 73
    Which of the following is not a principle of insurance
    პასუხი
    (B)
    insurable risk
  • 74
    Which of the following terms is used in marine insurance when the cargo suffers partial loss?
    პასუხი
    (B)
    Particular Average
  • 75
    Which of the following is not a function of money?
    პასუხი
    (A)
    Double coincidence of wants