2012 WAEC Commerce past questions and answers

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1

The development of trade in West Africa was aided by the

A emergence of traditional rulers

B arrival of the Portuguese

C Introduction of tax payment

D introduction of money



Correct Option: B


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2

An issuing house is an outlet for

A new shares and bonds

B non-listed companies shares

C existing shares and bonds

D only gilt-edged securities



Correct Option: C


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3

Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller's warehouse up to his own warehouse?

A F.O.R

B C.I.F

C F.A.S

D Loco



Correct Option: C


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4

The relationship between all imports and exports of a country is known as

A terms of trade

B balance of trade

C balance of payment

D terms of payment



Correct Option: B


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5

Which of the following is an example of large-scale retailing?

A Hawking

B Mobile shops

C Kiosks

D Department stores



Correct Option: D


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6

A cheque drawn by a bank on itself is a/an

A direct debit

B bank draft

C bank transfer

D overdraft



Correct Option: B


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7

A voluntary body formed by people in the same line of business for the purpose of protecting their interest is a

A trade association

B trade union

C chamber of commerce

D trading partnership



Correct Option: A


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8

Those who are engaged in the distribution of goods belong to

A commercial occupation

B extractive industry

C manufacturing industry

D construction industry



Correct Option: A


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9

When an insurance policy is declared void because of a false declaration ; the principle involved is

A indemnity

B subrogation

C proximate cause

D utmost good faith



Correct Option: D


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10

Buildings and machinery used in the running of a business are examples of

A current assets

B intangible assets

C liquid assets

D fixed assets



Correct Option: D


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