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 amount the assured receives if he decides to discontinue the life policy is known as
Arefund value
Bnet value
Csurrender value
Dsum assured
View Explanation & Discuss
Question 12
waec2006
Which of the following is not the duty of an agent to the principal?
AActing in good faith
BRendering accurate account
CDisclosing all profits made
DMaking secret profit
View Explanation & Discuss
Question 13
waec2006
The speculator who applies for a new issue of shares without the intention of keeping them is
Abull
Bstag
Cbear
Djobber
View Explanation & Discuss
Question 14
waec2006
The beneficiary of a cheque is called
Aacceptor
Bdrawee
Cdrawer
Dpayee
View Explanation & Discuss
Question 15
waec2006
Which of the following institutions does not belong to the capital market
ACommercial banks
BDevelopment banks
CMortgage banks
DInsurance companies
View Explanation & Discuss
Question 16
waec2006
The time allowed for unloading and loading a ship is referred to as
Ademurrage
Blay days
Ccharter party
Dcharter by demise
View Explanation & Discuss
Question 17
waec2006
The provision of dredging and dry dock facilities at any sea port is the responsibility of
APorts and Harbours Authority
BCustoms and Excise Authority
CNational Health Authority
DNational Water and Electricity Authority
View Explanation & Discuss
Question 18
waec2006
The place where dutiable goods are kept until the duties on them are paid is
Acustoms warehouse
Bpublic warehouse
Cbonded warehouse
Dthe wharf
View Explanation & Discuss
Question 19
waec2006
Which of the following trends in retailing provides the convenience of shopping without cash
AAutomatic vending
BSelf-service
CCredit card
DWindow display
View Explanation & Discuss
Question 20
waec2006
Which of the following assesses duties payable on imports and exports?
APorts Authority
BCentral Bank
CCustoms and Excise Authority
DExport Promotion Council
View Explanation & Discuss
Question 21
waec2006
An outright prohibition on the importation of goods to a country is referred to as
Aquota
Btariff
Cembargo
Ddevaluation
View Explanation & Discuss
Question 22
waec2006
An association formed to protect the interests of buyers of various commodities is known as
AChamber of commerce
BEmployers association
CConsumers Association
DManufacturers Association
View Explanation & Discuss
Question 23
waec2006
Which of the following is not a duty of a credit union?
AHelping members to save
BGranting loans
CAdvising on the use of funds
DConfirming members' indebtedness
View Explanation & Discuss
Question 24
waec2006
Which of the following goods has the lowest rate of turnover?
AStaple foods
Boffice stationery
CRefrigerator
DSchool exercise books
View Explanation & Discuss
Question 25
waec2006
When the public wants to buy more of a company's share than has been offered for sale, the share is said to be
Arights issue
Bover subscribed
Cqouted at a premium
Dover-valued
View Explanation & Discuss
Question 26
waec2006
The following information relates to Mallam Amidu Kachella for the year ended 31/12/2005.
#
Opening stock 4,000
Purchases 16,000
Sales 30,000
Debtors 6,500
Creditors 4,200
Cash in hand 800
Closing stock 5,600
Bank overdraft 3,000
The average stock is
A#1,600
B#4,800
C#5,600
D#9,600
View Explanation & Discuss
Question 27
waec2006
Which of the following is used only in international trade?
ALetter of inquiry
BCertificate of origin
CPro-forma invoice
DConsignment note
View Explanation & Discuss
Question 28
waec2006
The price quotation where the buyer uses his own means to collect goods from the producer's warehouse is
AF.O.B
Bex-works
CF.A.S
DF.O.R
View Explanation & Discuss
Question 29
waec2006
Which of the following groups of activities are commercial services
