Waec Commerce 1991 Past Questions and Answers

Question 51:

• WAEC 1991

When a seller sends pro-forma invoice to a potential customer, it is?

A. An indication that the seller is out of business
B. An indication that the goods are out of stock
C. A polite way of asking him to return the goods already purchased
D. An invitation to the purchaser to buy on hire-purchase
E. An indication that credit will not be granted

Question 52:

• WAEC 1991

A merchant wholesaler is one who?

A. Takes title to the goods he sells
B. Does not own the goods he sells
C. Earns a commision for serving as an agent
D. Sometimes makes retail sales
E. Engages in merchandizing

Question 53:

• WAEC 1991

A trade deficit means that?

A. The balance of trade is favourable
B. Exports are less than imports
C. Imports are less than export
D. Exports are decreasing
E. The balance of payments is unfavourable

Question 54:

• WAEC 1991

A document issued by the government authorizing a person to take goods out of the country for sale abroad is known as?

A. Export licence
B. Import licence
C. Dock warrant
D. Bill of lading
E. Consular invoice

Question 55:

• WAEC 1991

The naria is legal tender because it is?

A. Recongnizable
B. Backed by law
C. Generally acceptable
D. Homogeneous
E. Portable