Waec Commerce 1994 Past Questions and Answers

Question 6:

• WAEC 1994

Which of the following relies on the government for its initial capital?

A. Co-operative Society
B. Private Limited Company
C. Public Corporation
D. Public Limited Company
E. Credit and Thrift Society

Question 7:

• WAEC 1994

A cheque does not contain?

A. Cheque number
B. Cashier's signature
C. Payee's name
D. Drawer's name
E. Date of issue

Question 8:

• WAEC 1994

The most acceptance and convenient means of payment in foreign trade is?

A. Letter of credit
B. Bank-draft
C. Telegraphic money order
D. Promissory note
E. Bill of exchange

Question 9:

• WAEC 1994

An association of firms, producing similar commodities, formed in order to keep up prices by restricting output is called?

A. A chamber of commerce
B. A customs union
C. An amalgamation
D. A cartel
E. A combination

Question 10:

• WAEC 1994

An establishment that specializes in taking care of risks is called?

A. A hire-purchase company
B. An accepting house
C. An insurance company
D. A finance company
E. A confirming house