Commerce Past Questions And Answers
A retail outlet which sells a fairly narrow range of goods with a number of branches in different towns is a?
- A. supermarket
- B. mail-order shop
- C. mobile shop
- D. multiple shop
The basic elements of a valid contract are
- A. offer, acceptance, consideration and witness
- B. offer, intention, acceptance and legality
- C. offer, acceptance, intention, capacity and legality
- D. offer, acceptance, capacity, legality and consideration
If Karamo who lives in The Gambia imports goods from Senegal and later sells them in Guinea Bissau; Karamo is engaged in
- A. multi-lateral trade
- B. counter trade
- C. barter trade
- D. entrepot trade
An agreement between two parties which is enforceable by law is a?
- A. promise
- B. warranty
- C. contract
- D. condition
The main advantage of road transport is that it is
- A. convenient and flexible
- B. cheap and direct
- C. common and fast
- D. safe and available
Good and services transferred from seller to buyer without immediate payment is referred to as
- A. leasing
- B. hire purchase
- C. credit sale
- D. mutual understanding
(a) Give four uses of an Organization chart
(b) Explain three reasons why managers may refuse to delegate
(c) State three advantages of delegation of authority
View Discussion (0)WAEC 1996 THEORYThe temporary working area of the central processing unit is called the?
- A. C-D ROM
- B. C-D RAM
- C. ROM
- D. RAM
A refund of the duty collected on goods imported and processed for re-export is?
- A. excise duty
- B. excise draw back
- C. preferential duty
- D. value added tax
One of the principles of insurance is
- A. Proximate cause
- B. Fidelity guarantee
- C. Consequential loss
- D. Surrender value