1990 WAEC Commerce past questions and answers

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1
Paper money originated in form of receipt given by?

A money lenders

B goldsmiths

C bankers

D traders



Correct Option: B


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2
The major divisions of Commerce are?

A import, export and transport

B trade, communication and warehousing

C trade and auxiliaries to trade

D exchange, consumption and production



Correct Option: C


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3
Which of the following statements is not true?

A Commercial services are the life's blood of a country's economic system

B There cannot occur commercial services unitl goods have been produced

C Without commercial services must goods and services will not produced

D There is no stage of production that does not employ commercial services



Correct Option: B


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4
The three main division of production include industrial?

A commercial banking services

B commercial and services

C transportation and services

D manufacturing and services



Correct Option: B


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5
Which of the following does not belong to the industry?

A Farming

B Insuring

C Mining

D Drilling



Correct Option: B


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6
Which of the following is one of the functions of commerce?

A Manufacturing

B Growing of tomatoes

C Storage of goods

D Construction of roads



Correct Option: C


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7
Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The average stock is?

A N2000

B N3000

C N5000

D N6000



Correct Option: C


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8
Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The cost of goods sold is?

A N6000

B N10000

C N42000

D N16000



Correct Option: A


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9
The oldest and commonest form of business in Nigeria is?

A partnership

B the co-operative society

C sole proprietorship

D joint stock veture



Correct Option: C


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10
If a retailer Mr. Aigbojie buys goods manufactured by Adefila Limited from wholesaler Mrs. Jumai, who will prepare the delivery note?

A Mr. Aigbojie

B Adefila Limited

C Mr. Jumai

D Mr. Aigbojie and Adefila Limited



Correct Option: C


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