WAEC - Commerce (2010)
1
A bonded warehouse is a place for keeping
2
Which of the following can quote its shares on the stock exchange
3
If a businessman wants to insure against dishonesty of the cashier, he will take
Answer(C)
a fidelity guarantee cover
4
Which of the following describes the reason for international trade
Answer(B)
Comparative cost advantage
5
Small scale retailers continue to survive inspite of serious competition from large scale retailers because they
Answer(B)
maintain personal relationship with customers
6
Which of the following factors is not to be considered in starting a retail trade?
7
The import of foreign-produced goods to be re-exported is known as
8
One roof containing a number of shops is a
9
The selling of articles from place to place on foot is
10
A company whose shares are not easily transferable is a
11
Which of the following must be stated in the article of association?
Answer(A)
the objects of the company
12
Which of the following insurance principles states that a person must be in a position to suffer financially in the event of a loss?
13
Catalogs are mostly used by
14
The main function of a thrift and credit cooperative society is to
Answer(D)
encourage members to save
15
The exchange of goods for goods in home trade is known as
16
Which of the following is a safest way of sending important documents through the post
17
Which of the following is not true of the stock exchange?
18
A cheque issued in January 1997 which the holder failed to present for payment until September 1997 is called a
19
When the buyer of an existing share is to receive the pending dividend, the price is
20
What is the name of a service where a bank makes regular payment on behalf of its customers
21
The enterprise whose main objective is to provide the public with essential services is known as
22
Which of the following is a more suitable medium for advertising a new tractor?
23
Which of the following is an advertising function?
24
The document of title to goods being shipped abroad is known as
25
The practice whereby customers purchase goods without being attended to by shop assistants is
26
In which of the following are members entitled to one vote, irrespective of the number of shares held?
27
Mobile shopping involves selling
28
The provision of adequate number of berths by which ships can load and off-load is the function of the
29
Which of the following is not a disadvantage of a one-man business?
Answer(C)
Personal control of business
30
Unlimited liability in business implies that the
Answer(D)
owners private property can be used to settle the business debts
31
Sole proprietorship is a form of business owned by
32
Which of these qualities guarantees the keeping of money for a long period?
33
Which of the following is not a source of fund for sole-proprietorship?
34
Which of the following is not an advantage of partnership?
Answer(C)
Freedom to terminate business
35
Which of the following is used for a single payment of many people at the same time through a bank instead of writing separate cheques?
36
The legal document that gives a individual power to protect his own piece of invention is called
37
A mortgage bank is primarily concerned with financing the acquisition of
38
The work of actuaries is to
Answer(A)
underwrite insurance risks
39
Government financial grants is a source of capital to a
40
Which of the following is not a feature of co-operative society?
Answer(C)
Votes are according to shares held
41
The practice of selling the product below the cost price to attract customers to a shop is known as
42
Which of the following is not contained in a deed of partnership?
43
The publication of facts from a firm's product is called
44
Which of the following is not a function of a retailer?
45
A firm on the stock exchange which agrees to buy shares not bought after a public offer is
