2011 WAEC Commerce past questions and answers

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1

When the government gives up its ownership and control of a business to individuals, this is known as

A nationalization

B commercialization

C privatization

D indigenization



Correct Option: C


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2

The reward received by a party in a contract agreement is known as

A consideration

B acceptance

C offer

D warranty



Correct Option: A


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3

Payment to a ship owner for carrying one's cargo is

A demurrage

B fare

C dock due

D freight



Correct Option: D


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4

Which of the following is not pre-sale service?

A Repair and maintenance work

B Providing detailed information about the goods to be purchased

C Demonstrating the use and performance of the products to be sold

D Setting up facilities for storing the product to be bought



Correct Option: A


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5
Which of the following is used to inform the addressee that he has a registered parcel for collection?

A Counterfoil

B Express label

C Slip

D Telegram



Correct Option: C


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6

The co-operative society that performs a combination of the functions of other types of cooperatives is called

A consumer cooperative

B multipurpose cooperative

C producer cooperative

D thrift and credit cooperative



Correct Option: B


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7

That portion of the share capital which the company has asked the shareholders to pay for is known as

A authorized capital

B paid-up capital

C issued capital

D called-up capital



Correct Option: D


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8

One of the advantages of air transport over other forms of transport is

A safety

B flexibility

C cost

D speed



Correct Option: D


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9

Which of the following are elements of a valid contract?

A Dishcarge and performance

B Offer and acceptance

C Age and maturity

D Promise and capacity



Correct Option: B


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10

The last link in the channel of distribution is the

A retailer

B consumer

C wholesaler

D producer



Correct Option: B


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