Waec Commerce 1992 Past Questions and Answers

Question 56:

• WAEC 1992

A modern method of retailing whereby customers can make their purchases without the help of an assistance or cashier is called?

A. Impulse buying
B. One-step-shopping
C. Self service
D. Automatic vending
E. Auction sales

Question 57:

• WAEC 1992

A cheque that is drawn in the name of a bank instead of the account holder's name is called?

A. Bank statement
B. Bill of exchange
C. Specially crossed cheque
D. Certified cheque
E. Bank draft

Question 58:

• WAEC 1992

A deduction made by a wholesaler from the catalogue price and which represents a retailer's profit margin is called?

A. Cash discount
B. Deferred discount
C. Trade discount
D. Quantity discount
E. Cash on delivery

Question 59:

• WAEC 1992

A cheque dated 5/8/91 was dishonoured because it was a?

A. Certified cheque
B. Marked cheque
C. Specially crossed cheque
D. Post-dated cheque
E. Stale cheque

Question 60:

• WAEC 1992

An order stating the goods required but not the manufacturer from whom the foreign buyer intends to buy his goods is called?

A. Indent
B. Open indent
C. Closed indent
D. Export order
E. Import order