1993 WAEC Commerce Past Questions & Answers - page 1

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1
The performance of business activities that directs the flow of goods and services from the producer to the consumer is?

A
marketing
B
merchandising
C
transportation
D
production

Correct Option: A

No further explanations yet...

2
Which of the following is not an elements of the marketing mix?

A
Product
B
Pricing
C
Promotion
D
Purchases

Correct Option: D

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3
The concept that consumers decided what goods and services shall be known as consumer?

A
protection
B
surplus
C
sovernignty
D
behaviour

Correct Option: C

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4
A person who sells goods belonging to another person in his own name and receives commission is a?

A
wholesaler
B
retailer
C
sole trader
D
factor

Correct Option: D

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5
When an insured person admits that he has indemnified, he means that?

A
the insurance company has accepted his claim
B
the damaged properties has been recovered
C
he has paid his premium fully
D
the insurance company has restored him to his formal position

Correct Option: D

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6
The different between an overdraft and loan is that an overdraft?

A
does not yield interest
B
is giving to savings account holders only
C
yields interest on the customer before it is granted?
D
yields interest only on the sum drawn

Correct Option: D

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7
The excess value of the assets of a business over its liabilities is?

A
capital owned
B
working capital
C
issued capital
D
liquid capital

Correct Option: E

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8
Cash is said to be legal tender because it?

A
can be converted into money order
B
can be offered and accepted for payment
C
is negotiable
D
also takes the form of bank draft

Correct Option: B

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9
A crossed postal order is?

A
generally acceptable for payment
B
easily converted to cash
C
the same as money order
D
cashed through a bank

Correct Option: E

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10
A bank whose name is printed on a cheque leaf is known as the?

A
drawer
B
payer
C
drawee
D
payee

Correct Option: C

No further explanations yet...

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