Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
Mr Ajai did not disclose that he stores drums of petrol when he took a fire insurance policy. Under which of the following principles will the insurance company reject his claims
ASubrogation
BUtmost good faith
CInsurable interest
DProximate cost
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Question 3
waec1999
A contract of sale of goods where ownership passes to the buyer on the payment of first installment is
Ahire purchase
Bcash with order
Cdeferred payment
Dcash on delivery
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Question 4
waec1999
A picture which indicates that success in life can only be achieved through the use of the product is an example of
Amarket research
Bpersuasive advertising
Cmass selling
Dinformative advertising
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Question 5
waec1999
Which of the following have lien on goods in their possession until their commission is paid?
ABrokers
BFactors
CAuctioneers
DWholesale merchants
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Question 6
waec1999
Which of the following serves as a receipt for goods kept in a bonded warehouse?
ADock Warrant
BBill of Sight
CFoul bill
DDock due
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Question 7
waec1999
A hire purchase transaction becomes a sale when when the
Ahirer accepts the hire purchase terms
Bfinance company agrees to pay
Chirer takes possession of goods
Dhirer pays full cost of the goods
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Question 8
waec1999
Bonded warehouses are controlled by
AExport Promotion Council
BPorts Authority
CCustoms and Excise Authority
DClearing and Forwarding agents
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Question 9
waec1999
Which of the following implies that the price quoted includes the cost of insurance and carriage?
AF.O.B
BF.A.S
CC.O.D
DC.I.F
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Question 10
waec1999
Which of the following is the most suitable channel of distribution for technical goods?
Amanufacturer-retailer-consumer
Bmanufacturer-wholesaler-retailer-consumer
Cmanufacturer-wholesaler-consumer
Dmanufacturer-consumer
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Question 11
waec1999
Which of the following can be sold through a vending machine?
Acigarettes
Bshirts
Chandbags
Dshoes
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Question 12
waec1999
Business losses in nationalized industries are borne by the
AShareholders
BDebenture holders
CBoard of directors
DPublic
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Question 13
waec1999
Which of the following is not an economic grouping?
AECOWAS
BGATT
CECOMOG
DEEC
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Question 14
waec1999
The task of grouping consumers according to their buying habits is known as market
Adiversification
Bdevelopment
Cexpansion
Dsegmentation
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Question 15
waec1999
Direct selling by a producer to a consumer is possible when the
Agoods have to be made on demand
Bmanufacturer has a good knowlegde of the market
Ccustomer buys in small quantities
Dgoods are fashionable
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Question 16
waec1999
A manufacturer of machinery who wants to reduce cost of promotion can use
Asamples
Bpublic relations techniques
Cshowrooms
Dcatalogues
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Question 17
waec1999
Which of the following is a disadvantage of canal transport? it is
Anarrow and cannot support big vessels
Bnot suitable for small ferriers
Coften for short journey
Dsuitable for carrying only goods
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Question 18
waec1999
Which of the following is the fastest means of sending a document from one place to another?
AFacsimile
BCourier service
CExpress mail
DRegistered mail
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Question 19
waec1999
One advantage of communication by telephone is
Athe conversation can be very short
Bit is less expensive
Cfeedback is instantenous
Dthe conversation is strictly private
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Question 20
waec1999
Which of the following qualities of money is generally undermined by inflation?
