WAEC - Commerce (2019)

1
A firm which turns timber into wooden office desks belongs to the
Answer
(D)
construction industry
2
E-commerce is an activity which involves
Answer
(B)
trading in products through the internet
3
Rent is the return on
Answer
(C)
labour
4
A partner whose only contribution to the partnership is his name and goodwill is
Answer
(C)
a nominal partner
5
Computer manufacturers in an area could a form of a
Answer
(A)
producer association
6
The problem of double coincidence of wants is that
Answer
(A)
it is hard to determine the exchange rate of goods
7
The type of business where management is separated from ownership is a 
Answer
(C)
partnership
8
Where there is no deed of partnership, members share profit on
Answer
(D)
equal basis
9
The factor of production that is fixed in nature is
Answer
(A)
land
10
A means of payment through the post office is
Answer
(B)
money order
11
A stock exchange broker is engaged in
Answer
(B)
commercial occupation
12
A group of companies formed to carry out an activity that is beyond the ability of any individual company is
Answer
(B)
a merger
13
The share capital of a company stated in the memorandum of association and approved by the registrar of companies is
Answer
(B)
paid-up capital
14
one of the aims of a trade association is to
Answer
(A)
liaise with other trade associations in other countries
15
Retail outlets which sell from vehicles are
Answer
(B)
mobile shops
16
Cash in hand and at bank, plus debtors are components of
Answer
(B)
current assets
17
Goods sold under a distinctive trademark are
Answer
(A)
branded goods
18
A firm which imports goods with the view of re-exporting them is engaged in
Answer
(B)
entrepot trade
19
A risk whose probability of occurrence is impossible to estimate is
Answer
(A)
uninsurable risk
20
An instruction to a bank regular payment to a third party on behalf of a customer is 
Answer
(A)
standing order
21
The diagram above shows a
Answer
(C)
cheque
22
XYZ Bank of commerce PLC is the
Answer
(D)
drawee
23

Oki Williams is the

Answer
(C)
drawer
24
An international trade practice where goods are exchanged for other goods is 
Answer
(C)
barter trade
25
A proportion of the total deposit that a commercial bank must keep as cash and convertible paper is 
Answer
(B)
liquidity ratio
26
The principle that applies when Greene and Sunwar Insurance Companies jointly indemnified Fatou for the destruction of her storey building by fire is 
Answer
(C)
proximate cause
27
The charge paid by a speculator for non-settlement of his account within the specified period is
Answer
(B)
brokerage
28
A cheque for which payment is refused due to insufficient funds is a
Answer
(C)
dishonored cheque
29
The keyboard of a computer is classified as
Answer
(A)
an input device
30
A communication equipment which is stationed in space for sending signals is
Answer
(C)
satellite
31
One of the factors which determines the choice of transport for goods is the
Answer
(D)
nature of the goods to be transported
32
Which of the following activities increases demands for goods and services
Answer
(A)
advertising
33
A diagram showing the positions of the structure of a company is
Answer
(B)
organizational chart
34
Good customer service practice requires
Answer
(C)
patience towards ill-mannered customers
35
The element of a contract are offer,
Answer
(A)
acceptance and performance
36
Which of the following types of advertising is aimed at taking away existing buyers from their slippers?
Answer
(B)
competitive
37
The marketing concept emphasizes the need to
Answer
(D)
build a strong and solid brand
38
An agent whose authority, as conferred by the principal, has no limit is a 
Answer
(A)
del credere agent
39
An agreement in which Phillip paid half of a car and accepted to pay the rest in instalments is a 
Answer
(A)
condition sale contract
40
A new offer of contract that terminates the original offer is
Answer
(B)
a counter offer
41
Which of the following roles is performed by middle management in an organization?
Answer
(C)
review and appraisal of operational results
42
The management term which refers to the number of staff a superior officer can efficiently supervise is 
Answer
(D)
span of control
43
Which of the following business units could be commercialized? 
Answer
(A)
public corporation
44
The restructuring of a government enterprise with the intention of making it profit oriented is
Answer
(A)
privatization
45
The headquarters of the Mano River Union is in
Answer
(A)
Freetown
46
A source of capital to a public company which attracts a fixed rate of interest is
Answer
(A)
an ordinary share
47
Which of the following is not an economic grouping in West Africa?
Answer
(C)
European Union
48
A customer who wishes to withdraw an amount greater than the balance in his current account would apply for?
Answer
(B)
an overdraft
49
The combination of business activities of Abbas Ltd and Denko Ltd to form one large company is 
Answer
(A)
an amalgamation
50
The difference between commercialization and privatization is that commercialized businesses
Answer
(A)
are government-owned while privatized businesses are owned by individuals