Commerce Past Questions And Answers
2671
Tourism serves the purpose of
- A. cross-cultural understanding and peaceful interaction
- B. opening values for leaving the country
- C. economic development and naturilization
- D. exploiting the country's natural endowment
2672
(a) Give two uses of each of the following documents in business transaction. (I) Proforma invoice (ii) Advice note (iii) Credit note (iv) Statement of account (v) Receipt.
View Discussion (0)WAEC 1996 THEORY2673
A ceiling on the quantity of commodity to be imported into the country is called
- A. ban
- B. tariff
- C. price limit
- D. quota
2674
The merger of two companies producing the same type of products is an example of
- A. vertical integration
- B. horizontal integration
- C. lateral merger
- D. an acquisition
2675
To sell a bill at less that the face value before its maturity is?
- A. discounting
- B. retiring
- C. accepting
- D. noting
2676
A cheque could be dishonoured as a result of?
- A. same amount in words and figure
- B. insufficient fund
- C. general crossing
- D. regular signature
2677
An agreement to deliver goods in the future after payment of the final installment is known as?
- A. credit sales
- B. hire purchase
- C. conditional sale
- D. trade-in-sale
2678
A system of buying products from a machine is known as
- A. Impulse buying
- B. branding
- C. automatic vending
- D. loss leader
2679
One of the requirements necessary for setting up a business is?
- A. registration
- B. advertisement
- C. knowledge of the business
- D. documentation
2680
A document used as a polite way of refusing credit is
- A. advice note
- B. quotation
- C. proforma invoice
- D. invoice