Waec Commerce 1991 Past Questions and Answers

Question 66:

• WAEC 1991

A cover note is a?

A. Document of title to goods
B. Letter from the tax authority
C. Label attached to goods foe indentification
D. Temporary insurance certificate
E. Letter issued by banks to customers

Question 67:

• WAEC 1991

In nationalized industries, losses are borne by the?

A. Tax payers
B. Shareholders
C. Debenture holders
D. Minister of industries
E. Borad of Directors

Question 68:

• WAEC 1991

The main aim of the ECOWAS is the?

A. Elimination of aparthied
B. Formation of West African High Command
C. Formation of Government of West African States
D. Promotion of economic and cultural interaction
E. Promotion of ethnic and rural integration among members states

Question 69:

• WAEC 1991

The consumer is always right. This describes the doctrine of?

A. Social responsibility
B. Consumer movement
C. Consumer sovereignty
D. Consumer protection
E. Caveat venditor

Question 70:

• WAEC 1991

equity interest in a company is represented by?

A. Preference shares
B. Retained earnings
C. Debentures
D. Bonds
E. Ordinary shares