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WAEC - Commerce (2000)

1
Which of the following can be defined as trade and aids to trade?
Answer
(B)
Commerce
2
Which of the following is not a source of finance to a sole proprietor?
Answer
(C)
Debentures
3
The coming together of two or more firms at different stages of production is?
Answer
(B)
vertical merger
4
The total value of fixed and current assets is?
Answer
(B)
capital employed
5
Which of the following is true about cumulative preference shares?
Answer
(A)
Unpaid dividends are carried forward
6
Which of the following is true about cumulative preference shares?
Answer
(A)
Unpaid dividends are carried forward
7
A debenture is mortgaged when it is?
Answer
(C)
irredeemable
8
A retail outlet which sells a fairly narrow range of goods with a number of branches in different towns is a?
Answer
(D)
multiple shop
9
A consignment note is used when?
Answer
(B)
goods are dispatched to agent through transporters
10
Which of the following is not contained in an advice note?
Answer
(D)
Means of dispatch
11
A refund of the duty collected on goods imported and processed for re-export is?
Answer
(B)
excise draw back
12
When a country's total visible and invisible exports are more than its visible and invisible imports, it has?
Answer
(A)
favourable balance of payments
13
Which of the following is not a function of a retailer?
Answer
(D)
Branding and packaging of goods
14
A merchant who wishes to order goods from a foreign country sends?
Answer
(B)
an indent
15
A merchant who wishes to order goods from a foreign country sends?
Answer
(B)
an indent
16
The production of good in anticipation of demand is possible because of the existence of?
Answer
(C)
warehousing
17
Which of the following is sent in reply to a letter of enquiry?
Answer
(A)
Quotation
18
The abbreviation phrase E & OE is usually printed on?
Answer
(A)
an invoice
19
Which of the following refers to a price reduction based on the size of order?
Answer
(B)
Trader discount
20
Which of the following is not a means of payment in foreign trade?
Answer
(B)
Specially crossed cheque
21
A bill of exchanged on maturity is allowed?
Answer
(A)
seven days of grace
22
Which of the following is not a financial institution?
Answer
(A)
Commodity Board
23
When a customer writes a cheque in his name and withdraws cash with it from his account he is both the?
Answer
(D)
drawer and the payee
24
Which of the following is a means of payments through the post office?
Answer
(C)
Money order
25
Which of the following encourages people to save towards owning a house?
Answer
(C)
Mortgage bank
26
Which of the following services is not rendered by commercial banks?
Answer
(B)
Currency notes issue
27
A retirement insurance policy which enables the assured to receive income for a specific period is?
Answer
(A)
annuity
28
When an insurance company indemnifies the insured and takes over his rights, this is known as?
Answer
(B)
subrogation
29
When an insurance company indemnifies the insured and takes over his rights, this is known as?
Answer
(B)
subrogation
30
In a public Limited Liability Companies, equities are referred to as?
Answer
(C)
ordinary shares
31
In a public Limited Liability Companies, equities are referred to as?
Answer
(C)
ordinary shares
32
The method of sending message by the teleprinter?
Answer
(C)
telex
33
The information on terms of carriage of mails is mails is found in?
Answer
(B)
post office gulde
34
Rail transport is less flexible than road transport because?
Answer
(B)
train is slow over long distances
35
Which of the following is used for moving only goods from one sea port to another?
Answer
(B)
Cargo liner
36
The marketing activity that stimulate immediate demand for a product is?
Answer
(A)
sales promotion
37
Which of these is not a basic marketing function?
Answer
(C)
Facilitation
38
Branding is a tool for?
Answer
(A)
competitive advertising
39
Firms wishing to defend establishment products as well as launch new ones will make use of?
Answer
(D)
advertising
40
Which of these is not a basic marketing function?
Answer
(C)
Facilitation
41
Which of the following is a method of sales promotion?
Answer
(C)
Trade fair
42
The deliberate and sustained efforts to maintain a good iamgr of a company is known as?
Answer
(B)
public relations
43
A contract of sale where ownership passes to the buyer on the first installment is known as?
Answer
(D)
credit sale
44
Which of the following agent guarantees payment for transaction entered into on half the principal?
Answer
(D)
Del creder
45
Which of the following is not a means of consumer protection?
Answer
(D)
Tax laws
46
Which of the following is not a means of consumer protection?
Answer
(D)
Tax laws
47
Which of the following is not a requirement for a valid contract?
Answer
(C)
Interest
48
A counter-offer in a contract is regarded as?
Answer
(C)
a rejection
49
Which of the following is not a right of the consumer?
Answer
(D)
Value
50
Which of the following is an agreement to transport goods but not a document of title?
Answer
(C)
Charter party