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.
The law stipulating that labels should contain full details about a product is known as the
AHire-purchase Act
BPrice Control Act
CStandards Organisation of Nigeria Act
DTrade description Act
ESale of Goods Act
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Question 1742
waec1997
Which of the following is not considered when siting a retail shop?
AAdvertising
BRent
CAccessibilty
DTarget population
EProximity to source of supply
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Question 1743
waec1997
Which of the following is not covered by fire insurance policy?
AConsequential loss
BGas explosion
CDomestic boilers
DLightning
EKerosene explosion
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Question 1744
waec1997
The insurance principle which expects the insured and the insurer to disclose all facts about a proposed contract is called
Auberrimae fidei
Bindemnity
Cproximate cause
Dinsurable interest
Econtribution
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Question 1745
waec1997
The Stock Exchange does not deal in
Ashares
Btreasury bills
Cdebentures
Dstocks
Ebonds
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Question 1746
waec1997
The compensation given to brokers who sell shares to jobbers is called
Apremium
Bcommission
Csalary
Dinterest
Edividend
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Question 1747
waec1997
Which of the following is the basic principle of marketing concept?
ASeller-oriented
BProducer-oriented
CConsumer-oriented
DManufacturer-oriented
EProduct-oriented
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Question 1748
waec1997
Which of the following is not an acceptable collateral security for a bank loan?
ACertificate of occupancy
BLife assurance policy
CLien on deposit account
DFamily building
EWarehouse warrant
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Question 1749
waec1997
Debenture is an example of
Afixed capital
Bshare capital
Cloan capital
Dworking capital
Ecirculating capital
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Question 1750
waec1997
A retailer's mark-up is his
Atotal cost less total sales
Btotal sales less total returns
Cgross profit less expenses
Dsales dividend be average stock
Eselling price less cost price
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Question 1751
waec1997
The Manager,
Afribank,
Lagos.
Please pay to Great Nigeria Insurance Company, from my account, a sum of #125.00 at the end of every month until further notice, starting from this month.
The above instruction is a
Abill of exchange
Bcertified cheque
Cpromissory note
Dstanding order
Eletter of credit
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Question 1752
waec1997
When a Public Limited Company is incorporated it means that
Ait is entitled to commence business
BIt has been given certificate of trading
CIt has a legal existence
Dits shares cannot be transffered
Eit has to issue a statutory declaration
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Question 1753
waec1997
The aspect of management which ensures that there is no deviation from the set standards is called
Acontrolling
Bplanning
Ccommanding
Dorganizing
Edirecting
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Question 1754
waec1997
An established pattern of relationships among members of an organization is known as
Aorganizational behaviour
Borganizational structure
Corganizational manual
Dorganizational climate
Espan of control
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Question 1755
waec1997
Span of control is defined as the
Aauthority of the supervisior
Bqualification possessed by the supervisor
Cnumber of staff in the organization
Dnumber of surbodinates reporting directly to a supervisor
Eability of the supervisor to delegate authority
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Question 1756
waec1997
Self-service, mail order and automatic vending are examples of
Amarketing mix
Bsales promotion
Cpublic relations
Dselling techniques
Epersonal selling
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Question 1757
waec1997
Which of the following government legislation is not aimed at consumer protection?
ATaxation Law
BSales of Goods Act
CFood and Drugs Act
DStandards Organization Act
EPrice Control Act
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Question 1758
waec1997
In which of the following do the goods become the property of the buyer on the payment of first installment
AHire-purchase
BDeferred payment
CLeasehold
DCash with order
EForward trading
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Question 1759
waec1997
Which of the following is a disadvantage of credit transaction?
Aincreases turnover
Bfacilitates the sale of durable goods
Cencourages the habit of saving
Dencourages bad debt
Eenables consumers to enjoy goods without immediate payment
