Commerce Past Questions And Answers
The main advantage of using cinema as an advertising medium is that it is
- A. cheap
- B. accurate
- C. accessible
- D. informative
Retail outlets that have identical store design, layout and stock display are
- A. multiple shops
- B. tied shops
- C. mobile shops
- D. supermarkets
The following information relates to Raisa's grocery store as of 31st December 2018.
| Stock -1st January 2018 | 20,000 |
| Purchases | 150,000 |
| Sales | 230,000 |
| Carriage inwards | 4,000 |
| Rent received | 80,000 |
| Salaries | 29,000 |
| Stock -31st December 2018 |
You are required to calculate:
(a) cost of goods sold
(b) gross profit
(c) net profit
(d) percentage of gross profit
View Discussion (0)WAEC 2020 THEORYIn insurance the term Uberrimae fidei stands for?
- A. utmost good faith
- B. suborgation
- C. insurable interest
- D. indemnity against loss
The form of trade practised by the early men was characterized by?
- A. exchange of goods for money
- B. efficient distribution system
- C. exchange of goods for goods
- D. organized warehousing
A firm that accepts, sells and delivers goods by post is a
- A. supermarket
- B. multiple store
- C. department store
- D. mail order business
The goods that are used for the production of other goods are known as
- A. commercial goods
- B. consumer goods
- C. capital goods
- D. non-durable
Which of the following is best organized as a partnership?
- A. Drilling and marketing of crude oil
- B. Brewing and distribution of beer
- C. Designing and building of houses
- D. Assembling and marketing of vehicles
One of the facilities enjoyed by a current account holder is?
- A. a dividend
- B. a bonus
- C. an overdraft
- D. interest on deposits
A distinguishing characteristics of a limited liability company is that it
- A. is a collection of many sole proprietors
- B. is a multiple partnership
- C. can sue and be sued
- D. has limited resources