Waec Commerce 1993 Past Questions and Answers

Question 36:

• WAEC 1993

The concept that consumers decided what goods and services shall be known as consumer?

A. Protection
B. Surplus
C. Sovernignty
D. Behaviour
E. Co-operative

Question 37:

• WAEC 1993

A person who sells goods belonging to another person in his own name and receives commission is a?

A. Wholesaler
B. Retailer
C. Sole trader
D. Factor
E. Merchant

Question 38:

• WAEC 1993

When an insured person admits that he has indemnified, he means that?

A. The insurance company has accepted his claim
B. The damaged properties has been recovered
C. He has paid his premium fully
D. The insurance company has restored him to his formal position
E. He has recovered benefits lost through acting in bad faith

Question 39:

• WAEC 1993

The different between an overdraft and loan is that an overdraft?

A. Does not yield interest
B. Is giving to savings account holders only
C. Yields interest on the customer before it is granted?
D. Yields interest only on the sum drawn
E. Requires no application by the customer before it is granted

Question 40:

• WAEC 1993

The excess value of the assets of a business over its liabilities is?

A. Capital owned
B. Working capital
C. Issued capital
D. Liquid capital
E. Reserved capital