WAEC - Commerce (2009)

• 1

  A person who invented a new machine for making beverages may protect his exclusive right by

  回答

  (B)

  obtaining a patent
• 2

  Which of the following occupations comes under the extractive industry?

  i. Cattle-rearing, lumbering, farming
  ii. Mining, quarrying, hunting
  iii. Shipbuilding, road construction, iron bending
  iv. Singing, dancing, barbing

  回答

  (C)

  i and ii only
• 3

  Which of the following is sent by a supplier who does not want to sell on credit?

  回答

  (A)

  Pro forma invoice
• 4

  Retail outlets that have identical store design, layout and stock display are

  回答

  (B)

  tied shops
• 5

  Life assurance premium is determined by the assured's

  回答

  (B)

  age
• 6

  Which of the following is not a contract of indemnity

  回答

  (C)

  Life Assurance
• 7

  A stale cheque is one on which the date for payment is

  回答

  (A)

  overdue
• 8

  When an order cheque is endorsed it becomes a

  回答

  (B)

  bearer cheque
• 9

  The authority given to a bank to make regular payments on behalf of a customer is

  回答

  (C)

  standing order
• 10

  The taking over of privately owned businesses by the government is called

  回答

  (C)

  nationalization
• 11

  The rate of turnover is the number of times within a given period that

  回答

  (A)

  stock is sold and replaced
• 12

  Which of the following would be used when goods are sent through independent carriers?

  回答

  (C)

  Consignment note
• 13

  Which of the following is a feature of sole proprietorship?

  回答

  (B)

  Unlimited liability
• 14

  If a country devalues its currency, there would be

  回答

  (A)

  reduction in imports
• 15

  Establishing and maintaining mutual understanding between an organization and its customers is known as

  回答

  (C)

  public relations
• 16

  Which of the following requires a certificate of trading to start business

  回答

  (B)

  Public limited company
• 17

  A document through which the public is invited to subscribe to the shares of a company is a

  回答

  (C)

  Prospectus
• 18

  The tax paid on goods produced within a country is known as

  回答

  (B)

  excise duty
• 19

  The letters R/D on a cheque shows that the cheque is

  回答

  (B)

  dishonoured
• 20

  The mode of conveying liquids and gases through an underground channel is

  回答

  (A)

  pipeline
• 21

  Which of the following is a source of capital to a sole proprietorship?

  回答

  (A)

  Loans from friends
• 22

  A ship that travels without schedule is called a

  回答

  (B)

  tramp
• 23

  For overstaying in a port, a ship is charged a fine called

  回答

  (D)

  demurrage
• 24

  Stocks, shares and debentures traded in the stock exchange are called

  回答

  (C)

  securities
• 25

  Which of the following is a reduction in the catalogue price?

  回答

  (D)

  Trade discount
• 26

  The document which helps to determine the country from where goods were imported is

  回答

  (C)

  certificate of origin
• 27

  The internal regulations of a limited company are stated in the

  回答

  (C)

  Articles of Association
• 28

  Which of the following features is common to all retailers

  回答

  (B)

  Selling to the final consumers
• 29

  A private limited company differs from a public limited company because it

  回答

  (C)

  cannot easily transfer shares
• 30

  Exchange is facilitated by

  回答

  (C)

  specialization
• 31

  Which of the following is not a means of transportation by water

  回答

  (D)

  Carts
• 32

  The nominal value of kC Ltd's share is 50k and the market value is 70k. This means that the company's shares are selling

  回答

  (D)

  at premium
• 33

  Those who are engaged in exploiting natural resources are in

  回答

  (D)

  extractive occupation
• 34

  A sale agreement whereby the buyer takes possession but not title to the goods is

  回答

  (B)

  hire purchase
• 35

  Which of the following is not an example of Marine insurance?

  回答

  (A)

  Fidelity
• 36

  The owners of a public limited company are?

  回答

  (C)

  shareholders
• 37

  Which of the following justifies the existence of public enterprises

  回答

  (D)

  Providing essential services
• 38

  Who among the following has no voting right?

  回答

  (D)

  Debenture holders
• 39

  One of the main objectives of International Bank for Reconstruction and Development(IBRD) is to

  回答

  (B)

  lend to poor countries
• 40

  Life assurance premium is determined by the assured's

  回答

  (B)

  age
• 41

  Which of the following is not a function of the commercial bank?

  回答

  (C)

  Issuing of currency
• 42

  The police and the army are engaged in

  回答

  (B)

  indirect service occupation
• 43

  Which of the following are exclusively functions of marketing?

  回答

  (A)

  Buying, pricing, selling and promotion
• 44

  A type of policy where the assured or his dependents will not get anything if he dies within the period of the policy is known as

  回答

  (D)

  term policy
• 45

  Which of the following note will be sent to a buyer to inform him that the goods he ordered have been dispatched?

  回答

  (A)

  Advice note