Commerce Past Questions And Answers
(a) Write the following commercial abbreviations in full:
(i) C.OD (ii) C.I.F (iv) E & O.E
(b) The sale of a good costing Le100,000 attracts a trade discount of 5% and a cash discount of 5%. You are required to calculate the:
(i) trade discount value
(ii) cash discount value
(iii) net amount payable by the buyer.
View Discussion (0)WAEC 2017 THEORYFrom the following items purchased from Ndalempan Merchants Ltd, prepare an invoice to Osseh Builders Ltd
Jan. 8, 2014 , 200 buckets at D 100each
350 bags of cement at D 300each
50 metres of electrical wire at D 80per metre
120 boots at D 1200per dozen
55 bags of nails at D 500 per bag
All are subject to 10% trade discount.
View Discussion (0)WAEC 2017 THEORYThe insurance policy against claims from customers who might be injured within the business premises is called
- A. life assurance policy
- B. endowment policy
- C. fidelity guarantee insurance
- D. employers liability insurance
The process of converting a non-profit making organisation to a profit-making business is ________?
- A. indigenisation
- B. privatisation
- C. deregulation
- D. commercialisation
The main concern of marketing concept is to?
- A. reduce the number of retail outlets
- B. identify consumer needs and satisfy them
- C. increase sales to meet consumers needs
- D. encourage division of labour
Which of the following is a non-indemnity insurance?
- A. Personal Accident Insurance
- B. Burglary Insurance
- C. Fire Insurance
- D. Consequential loss Insurance
The most important function of commerce is?
- A. helping people to improve thir profits
- B. facilitaing exchanges among indiviuals and firms
- C. assisting trade through banking and insurance
- D. enhancing business relationships
(a) Who is an agent?
(b) Give six duties of an agent.
(c) State three rights of an agent.
View Discussion (0)WAEC 1994 THEORYThe scope of economic activities can be enlarged by
- A. transportation and trading
- B. trading and aids to trade
- C. business and its promotion
- D. insurance and banking
A public limited company has the rights and duties of an individual because it?
- A. has a board of directors
- B. has a trading certificate
- C. has corporate status'
- D. has a memorandum of association