Commerce Past Questions And Answers
(a) What is delegation of authority?
(b) State four advantages of delegation of authority.
View Discussion (0)WAEC 1990 THEORYThe principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
- A. subrogation
- B. proximate cause
- C. uberrimae fidei
- D. contribution
Goods and services transferred from seller to buyer without immediate payment is referred to as ______
- A. hire purchase
- B. mutual understanding
- C. credit sale
- D. leasing
When an industry or company is nationalized, the state becomes
- A. the major shareholder
- B. the mini shareholder
- C. the only shareholder
- D. an equal shareholder with other individuals
A function generally performed by authorities of both the air and seaport is the?
- A. maintance of warehouse where goods can be stored
- B. provision of facilities for loading and unloading of cargoes
- C. maintenance of security and order at the ports
- D. provision of facilities for landing and refuelling at the ports
Which of the following is not a means of controlling credit by the Central Bank?
- A. Fixing the bank rate
- B. Open market operations
- C. Clearing inter-bank indebtedness
- D. Special deposits
The process of selling government business to the public is known as?
- A. naturalization
- B. nationalization
- C. privatization
- D. commercialization
(a) List four features of a self service shop.
(b)State four disadvantages of a self service shop.
(c)State four importance of working capital to a business.
View Discussion (0)WAEC 2016 THEORYOne major characteristic of credit unions and thrift societies is that?
- A. the legal processes involved in their formation are rigid
- B. membership is compulsory to people in the same line of business
- C. the contribution of every member depends on the member's ability
- D. a minimum of ten people in the same line of business can form the union
Computer manufacturers in an area could a form of a
- A. producer association
- B. thrift society
- C. chamber of commerce
- D. consumer association