Waec Commerce 1990 Past Questions and Answers

Question 51:

• WAEC 1990

Which of the following is a function of money?

A. Provision of double coincidence of wants
B. Durability
C. Standard for deferred payment
D. Portability
E. Divisibility

Question 52:

• WAEC 1990

An overdraft is usually granted a?

A. Savings account holder
B. Deposit account holder
C. Current account holder
D. Loan account holder
E. Fixed deposit account holder

Question 53:

• WAEC 1990

which of the following documents may be used when an importer requires a longer period of credit before settlement?

A. Letter of credit
B. Documentry credit
C. Bill of lading
D. Sight draft
E. Bill of exchange

Question 54:

• WAEC 1990

the value of anything expressed in monetary terms is the?

A. Utility
B. Price
C. Service
D. Charge
E. Money

Question 55:

• WAEC 1990

which of the following is not a means of making payment to a businessman?

A. Bank draft
B. Cash
C. Money order
D. Cheque
E. Statements