WAEC - Commerce (1992)
1
The three main division of production are?
Atsakymas(A)
extraction, manufacturing and construction
2
Into which of the following two broad areas can trade be divided?
3
Which of the following is not true of a sole proprietorship?
Atsakymas(A)
It has a separate legal entity
4
Which of the following is an investor earns profit on the basis of his patronage?
5
Which of the following is an investor earns profit on the basis of his patronage?
6
A group of retailing shops under one management and selling then same products is known as?
7
A group of retailing shops under one management and selling then same products is known as?
8
Which of the following saves consumers the time and cost involved in travelling to commercial centres for shopping?
9
When payments is required for goods at the time order is placed, the term of payment quoted is?
10
The provision of all kinds of services is related to?
11
Which of the following is the primary purpose of a business concern? To
Atsakymas(A)
make maximum profit for itself and the share holders
12
When a motor dealer undertakes routine maintenance of costumers' vehicles, he is offering?
13
Which of the following has the main objective to differentiate between similar products from different manufacturers?
14
Which of the following abbreviations permit the drawer of a document to correct any errors therein?
15
The most important function of the retailer is to?
Atsakymas(C)
make goods available in units
16
A trade agreement in which two countries exchange goods and services is known as?
17
A term embracing buying, selling and distributing of goods and services is known as?
18
UTC, kingsway Stores and Leventis Stores are typical examples of?
19
Which of the following is not a reason for forming a customer association?
Atsakymas(E)
Making profit for consumers
20
The main similarity between commercial banks and other financial institution is?
Atsakymas(A)
the acceptance of customers' deposit and making on their behalf
21
Ware house are located in Lagos because of?
Atsakymas(C)
nearness to sea and airports
22
A speculator who buys shares and stocks in anticipating of a rise in their price at the stock Exchange is a?
23
A del credere agents is distinguished from other agent in that he?
Atsakymas(D)
usually guarantees payments in any transcaction
24
Which of the following cannot be used as a means of transport between Kano and Lagos?
25
Which of the following is common to both large and small firms?
26
Nearness to a city centre and a busy street is a necessary condition for sitting?
27
The minimum number of membership for a public limited company is?
28
Manufacturing ends when goods?
29
Which of the following functions is not performed by as small retailer?
30
Which of the following functions is not performed by as small retailer?
31
Which of the following products is likely to have a low rate of turnover?`
32
Which of the following markets functions involves the actual movement of goods?
33
The abbreviation ECOWAS stands for?
Atsakymas(A)
Economic Community of West African States
34
The difference between cost and selling prices gives?
35
Which of the following is the quickest and most accurate means id communication?
36
A sales agreement whereby the buyer takes possession but not title to goods is called?
37
Any paid form of non-presentation of goods services by an identified sponsor is known as?
38
The document issued to a lender under a company's seal acknowledging a debt is called?
39
One means of making payment through NIPOST is the?
40
The abbreviation IDAPOLY on the letter - headed papers of the federal polytechnic Idah is an example of a?
41
Which of the following is not a reason for dishonoring a cheque?
Atsakymas(B)
Signed alteration on the cheque
42
A charge is specified cross if?
Atsakymas(C)
the name of a bank is written across it
43
The difference between the value of imports of goods for a particular year is known as?
44
Commerce increases the utility of goods by making them available when they are wanted. This function is performed by the use of?
45
In foreign trade, a country specializes in the production of a commodity in which it has?
Atsakymas(B)
the greatest relative advantage
46
A bill of lading is best described as the?
Atsakymas(A)
document of title to, the goods on board a ship
47
Organization licensed and authorized to deliver fast malls, and parcels are engaged in?
48
Parties to bill of exchange that is endorsed to a third party are the?
49
Bonded warehouse are controlled by?
Atsakymas(D)
Customs and Excise authorities
50
In large offices where a large number of mails is posted daily,which of the following quickens the stamping of envelopes?
51
The following factor must be considered before setting up a retail business except?
52
Which of the following ancillary service helps to maintain close contact between buyers and sellers?
53
The system of collecting information with a view to determining the extent of demand for a product is known as?
54
Which of the following organizations aim primarily at protecting the consumer?
Atsakymas(A)
Standards Organization of Nigeria
55
A modern method of retailing whereby customers can make their purchases without the help of an assistance or cashier is called?
56
A cheque that is drawn in the name of a bank instead of the account holder's name is called?
57
A deduction made by a wholesaler from the catalogue price and which represents a retailer's profit margin is called?
58
A cheque dated 5/8/91 was dishonoured because it was a?
59
An order stating the goods required but not the manufacturer from whom the foreign buyer intends to buy his goods is called?
60
Commercial banks deposits with the Central Bank help to?
Atsakymas(B)
control the supply of money credits
61
Which of the following is a non-insurable risk?
Atsakymas(E)
Loss from staking in lotteries
62
The policy which safeguards the employer from loss sustained as a result of fraudulent acts of his workers is the?
Atsakymas(E)
fidelity guarantee policy
63
Which of the following is responsible for advertising vacant positions existing in companies?
64
Which of the following association will be directly affected by legislations on tariffs and taxes on raw materials? The
Atsakymas(D)
Manufacturers Association of Nigeria
65
The process whereby a business organization regularly compares physical events with the standards set and takes corrective action is?
66
The process whereby a business organization regularly compares physical events with the standards set and takes corrective action is?
67
One of the objectives of the indigenization programmes of the Federal Government of Nigeria is to?
Atsakymas(B)
maximizing local retention of profits
68
The sole aim of of the formation of Niger Basin Commission is to?
Atsakymas(D)
jointly use the Niger for the over all benefit of the region
69
Which of the following is not a member country of the Lake Chad Basin Commission?
70
Whihc of the following is not a component of a company's marketing mix?
71
Marketing activities starts at the?
72
Which of the following is not a basic utility created by marketing?
73
The sign on Volkswagen represents the?
74
Which of the following is a good example of capital market?
75
An advance that is specially given foe housing or building projects is called?
76
Voyage policy is issued when goods are insured?
Atsakymas(A)
between one pot and another
77
The essence of marketing concepts is that all company planning, operations and other activities should be?
78
The essence of marketing concepts is that all company planning, operations and other activities should be?
79
The essence of marketing concepts is that all company planning, operations and other activities should be?
80
Details or services available and information regarding terms of carriage by post are contained in a?
