WAEC - Commerce (2003)
1
The scope of commerce is limited to?
2
A worker who processed garri is engaged in?
3
Which of the following is not a commercial occupation?
4
Industry is a branch of production because it?
Responder(A)
is a division of commerce
5
When a public company receives the certificate of incorporation, this implies that?
Responder(A)
it can go ahead and start business
6
When a number of thrift societies come together and are registered, they become a?
7
Which of the following would not be stated in Memorandum of Association?
8
The greatest risk in a business venture is borne by the?
9
A partner without an unlimited liability is known as a?
10
A partnership without a deed shares profits/losses?
Responder(D)
proportionate to assets introduced
11
They total amount of money actually received by a company out of the issued capital is?
12
If the turnover of as business is N16,000 and the cost of goods N12,000, what is the percentage of gross profit on sales?
13
A partner without an unlimited liability is known as a?
14
A partner without an unlimited liability is known as a?
15
In which of the following do shareholders always vote according to their shareholdings?
16
A public company has an authorized capital of 60,000 shares, A share costs 150k and the company has issued 36,000 shares. The issued capital would be?
17
A public company has an authorized capital of 60,000 shares, A share costs 150k and the company has issued 36,000 shares. The issued capital would be?
18
The rate of turnover of a company in a given year is 4 times while the average stock is N12,4OO. What is the turnover of the company?
19
Which of the following is an advantage of large scale retailing?
20
Which of the following is not a function of the retailing?
Responder(A)
Buying in bulk and warehousing
21
Which of the following is not a function of the retailing?
Responder(A)
Buying in bulk and warehousing
22
The refund made by on goods re-exported after being imported is known as?
23
Which of the following requires services of middlemen?
24
Responder(D)
importing goods to be re-exported
25
To sell a bill at less that the face value before its maturity is?
26
To sell a bill at less that the face value before its maturity is?
27
Which of the following tells the customer exactly what has been sold to him, the amount due and any discount granted?
28
Which of the following tells the customer exactly what has been sold to him, the amount due and any discount granted?
29
Which of the following documents is required when a bill of lading is not readily available to enable the goods to be landed?
30
Which of the following documents is required when a bill of lading is not readily available to enable the goods to be landed?
31
Total assets minus current liabilities is equal to a company's?
32
A public limited liability company can be enter into contracts because it?
33
A public limited liability company can be enter into contracts because it?
34
Taxes imposed on locally made goods are known as?
35
Which of the following contains the complete information on goods available for sale?
36
Which of the following contains the complete information on goods available for sale?
37
Which of the following is used to inform the buyer that goods available for sale?
38
Which of the following is used to inform the buyer that goods available for sale?
39
Quality discount is offered to persuade the buyer to?
40
The process of dealing with a cheque once it has been paid into the creditor's bank is?
41
Which of the following is taken type of insurance is taken against claims made by staff who get injured while at work?
Responder(D)
Employers' liability company
42
If the insured has been fully indemnified, the insurers are entitled to take any advantage due the insured. The principle of insurance involved is?
43
Who the following sells among securities in anticipation of a fall in price?
44
Which of the following provides a proof posting and that the item has got to the addressee?
45
A transporter who does not reject carrying lawful goods to destination is?
46
One disadvantage of of rail transport is?
47
Which of the following does not belong to the group?
48
A retailer sells his product at "Buy-two-take three" The sales promotion method referred to is?
49
A retailer sells his product at "Buy-two-take three" The sales promotion method referred to is?
50
When all producers in an industry combine to advertise their product instead of each firm advertising its own brand, this is referred as?
51
When all producers in an industry combine to advertise their product instead of each firm advertising its own brand, this is referred as?
52
It is often said that "the consumer is always right" This describes the doctrine of?
53
Activities undertaken to create awareness for a product by giving out samples premium or conducting contest are known a?
54
Market skimming is an example of?
55
A void contract is one that?
