Commerce Past Questions And Answers
What do we call agreement between two people enforced by law?
- A. Consideration
- B. offer
- C. contract
- D. agreement
The main function of thrift, credit and loans co-operative societies is to
- A. educate their members
- B. collect money from their members
- C. disburse money to their members
- D. raise investment finance among thir members
An organization formed mainly by traders on the same line of business is known as
- A. trade union
- B. cooperative society
- C. trade association
- D. chamber of commerce
which of the following documents is used in home trade only
- A. bill of lading
- B. airway bill
- C. certificate of origin
- D. proforma invoice
The drawer of a bill of exchange which is not discount is also the?
- A. 30 days
- B. 2months
- C. 6 months
- D. 12 months
Personal selling is most effective in marketing industrial goods because it involves?
- A. recongnition and attachment to customers
- B. personal interaction and information gathering
- C. demonstrations and product acceptability
- D. after-sales services and product demonstrations
The main purpose of branding is to?
- A. increase the quantity of goods demanded
- B. differentiate goods from other similar goods made by other producers
- C. increase the selling price of goods
- D. enhance turnover of goods
The distribution of profits based upon the level of patronage in the business is a common feature of
- A. partnership firms
- B. public limited companies
- C. co-operative societies
- D. private limited companies
(a) What is a contract?
(b) List five elements of a contract
(c) Explain six conditions that could lead to the termination of a contract.
View Discussion (0)WAEC 2010 THEORYWhich of following could account for a favourable balance of payment?
- A. High capital repayments
- B. high debt service repayment
- C. higher imports than exports
- D. higher expert than imports