2013 WAEC Commerce past questions and answers

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1

A document used as a polite way of refusing credit is

A advice note

B quotation

C proforma invoice

D invoice



Correct Option: C


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2

Carriage forward on an invoice means

A carriage will be paid next time

B carriage will be paid by seller

C carriage will be paid by buyer

D carriage has been paid



Correct Option: C


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3
Which of the following will be suitable for hire purchase sale?

A Shares

B Refrigerator

C Shoes

D Textile



Correct Option: B


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4

A person who earns extra commission for guaranteeing debts is a

A factor

B broker

C commission agent

D del-credere agent



Correct Option: D


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5

An insurance principle that prevents a person from insuring what he does not stand to lose financially if the insured risk occurs is

A indemnity

B insurable interest

C proximate cause

D subrogation



Correct Option: B


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6

Voyage policy insurance is associated with

A fire

B life

C marine

D burglary



Correct Option: C


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7

If a share is quoted ex-div, it means the new buyer would

A get the next dividend

B not get the next dividend

C get a fixed dividend

D not get any dividend



Correct Option: B


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8
Which of the following is not the function of commerce

A the conversion of raw materials into semi-finished products

B the conversion of semi-finished products into end products

C Provision of services to customers

D The exchange and distribution of goods and services



Correct Option: D


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9

Who among the following does not render direct service?

A Teacher

B Musician

C Doctor

D Retailer



Correct Option: B


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10

The last link in the production process is the

A transporter

B wholesaler

C consumer

D retailer



Correct Option: C


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