1992 WAEC Commerce past questions and answers

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1
The three main division of production are?

A extraction, manufacturing and construction

B import, export and entrepot

C industry, commerce and direct service

D industry, trade and direct service



Correct Option: A


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2
Into which of the following two broad areas can trade be divided?

A home and foreign trade

B home and retail trade

C wholesale and retail trade

D foreign and wholesale trade



Correct Option: A


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3
Which of the following is not true of a sole proprietorship?

A It has a separate legal entity

B It has unlimited liability

C It has a slim chances of expansion

D The capital is small



Correct Option: A


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4
Which of the following is an investor earns profit on the basis of his patronage?

A debenture holder

B partner

C sole proprietor

D co-operative member



Correct Option: D


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5
Which of the following is an investor earns profit on the basis of his patronage?

A debenture holder

B partner

C sole proprietor

D co-operative member



Correct Option: D


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6
A group of retailing shops under one management and selling then same products is known as?

A multiple shop

B supermarket

C department stores

D variety store



Correct Option: A


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7
A group of retailing shops under one management and selling then same products is known as?

A multiple shop

B supermarket

C department stores

D variety store



Correct Option: A


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8
Which of the following saves consumers the time and cost involved in travelling to commercial centres for shopping?

A Department store

B Supermarket

C Mobile shop

D Wholesale stores



Correct Option: C


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9
When payments is required for goods at the time order is placed, the term of payment quoted is?

A C.O.D

B C.W.O

C C.I.F

D F.O.R



Correct Option: B


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10
The provision of all kinds of services is related to?

A primary production

B secondary production

C territorial production

D construction



Correct Option: E


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