Waec Commerce 1991 Past Questions and Answers

Question 41:

• WAEC 1991

The total assets acquired for permanent use in a business concern is called?

A. Current assets
B. Fixed assets
C. Called-up capital
D. Working capital
E. Authorized capital

Question 42:

• WAEC 1991

Which of the following is not provided by NIPOST?

A. Private Mail Bag
B. Record Delivery
C. Business Reply Service
D. Telegram
E. Poste Restante

Question 43:

• WAEC 1991

A service provided by NITEL through which one can dial any number one wants whether it is a local, trunk or overseas is called the?

A. Internal Communication System
B. Standard Dialling System
C. Subscribers Dialling System
D. International Telecommunications
E. Coded Dialling Order

Question 44:

• WAEC 1991

The two main categories of marine losses are?

A. Total loss and partial loss
B. Total loss and particular average loss
C. Total loss and constructive total loss
D. Total loss and actual total loss
E. Partial loss and constructive total loss

Question 45:

• WAEC 1991

Restoring the insured to his former position by the insurer in the event of his suffering the specified loss is called?

A. Subrogation
B. Compensation
C. Indemnity
D. Contribution
E. Surrender value