2001 WAEC Commerce Past Questions & Answers - page 1

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1
Which of the following best describes commerce?

A
Buying and selling goods and services
B
Buying, selling and distribution and services
C
Preserving goods until they are needed
D
Making goods and services known to people

Correct Option: B

No further explanations yet...

2
hose who are engaged in exploiting natural resources are in?

A
extractive occupation
B
constructive occupation
C
commercial occupation
D
manufacturing occupation

Correct Option: A

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3
Which of the following classified under production?

A
Cloth making
B
Shoe mining
C
Coal mining
D
Road construction

Correct Option: B

No further explanations yet...

4
The mark-up of a retailer represents the?

A
gross profit
B
opening stock
C
closing stock
D
net profit

Correct Option: A

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5
The number of times the average stock of a business is sold within a given period is?

A
turnover
B
rate of turnover
C
sales return
D
current ratio

Correct Option: B

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6
Branding is an aspect of marketing mix associated with?

A
price
B
product
C
place
D
distribution

Correct Option: B

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7
Which of the following business must have at least one member with unlimited liability?

A
Limited liability company
B
Limited partnership
C
Nominal partnership
D
Public eneterprises

Correct Option: B

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8
Which of the following is a feature of sole proprietorship?

A
Issue of shares
B
Limited liability
C
Limited capital
D
Legal entity

Correct Option: C

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9
Which of the following is most appropriate for a "Cash with order" terms of sale?

A
Proforma invoice
B
Credit note
C
Debit note
D
Consignment note

Correct Option: B

No further explanations yet...

10
Which of the following is used to advertise of a company?

A
Memorandum of association
B
Articles of association
C
Certificate of incorporation
D
Prospectus

Correct Option: D

No further explanations yet...

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