Waec Commerce 1991 Past Questions and Answers

Question 81:

• WAEC 1991

Which of the following enjoins the buyers ti examine goods thoroughly beforeigeria making a purchase?

A. Uberrimae fidei
B. Caveat subscriptor
C. Consumer sovereignty
D. Caveat venditor
E. Standard for deferred payment

Question 82:

• WAEC 1991

Which of the following is not a function of money?

A. Unit of account
B. Store of value
C. Determinant of exchange of medium
D. Medium of exchange
E. Standard for deferred payment

Question 83:

• WAEC 1991

Which of the following is mostly used in Nigeria for setting business transactions?

A. Credit transfer
B. Standing order
C. Cheques
D. Bank notes and coins
E. Bank drafts

Question 84:

• WAEC 1991

When an order cheque is endorsed it becomes?

A. A bearer cheque
B. A certified cheque
C. An open cheque
D. A confirmed cheque
E. A dishonoured cheque

Question 85:

• WAEC 1991

Which of the following requires acceptance bythe editor to make it valuable?

A. Postal order
B. Cheque
C. Promissory note
D. Bill of exchange
E. Bill of lading