2010 WAEC Commerce past questions and answers

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1

A bonded warehouse is a place for keeping

A contraband goods

B dutiable goods

C tax free goods

D smuggled goods



Correct Option: B


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2

Which of the following can quote its shares on the stock exchange

A Partnership

B Sole-proprietorship

C Co-operative society

D Public limited company



Correct Option: D


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3

If a businessman wants to insure against dishonesty of the cashier, he will take

A burglary policy

B an employer's liability cover

C a fidelity guarantee cover

D a consequential loss policy



Correct Option: C


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4

Which of the following describes the reason for international trade

A Balance of payment

B Comparative cost advantage

C Absolute cost advantage

D Balance of trade



Correct Option: B


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5

Small scale retailers continue to survive inspite of serious competition from large scale retailers because they

A buy from many manufacturers

B maintain personal relationship with customers

C stock only one line of goods in their stalls

D do not separate business money from personal money



Correct Option: B


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6
Which of the following factors is not to be considered in starting a retail trade?

A Size of the business

B Nature of the business

C Amount of capital required

D Level of tax payable



Correct Option: D


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7

The import of foreign-produced goods to be re-exported is known as

A domestic trade

B wholesale trade

C entrepot trade

D counter trade



Correct Option: C


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8

One roof containing a number of shops is a

A tied shop

B mail order firm

C department store

D chain store



Correct Option: B


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9

The selling of articles from place to place on foot is

A mail order

B itinerant trading

C barter

D self service



Correct Option: B


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10

A company whose shares are not easily transferable is a

A private limited company

B public limited company

C public corporation

D company limited by guarantee



Correct Option: A


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