Waec Commerce 1995 Past Questions and Answers

Question 11:

• WAEC 1995

Goods are usually classified into?

A. Saleable and nonisaleable good
B. Inferior and superior goods
C. Luxurious and essential goods
D. Producer and consumer goods
E. Home made and foreign made goods

Question 12:

• WAEC 1995

Del-credere commission is an?

A. Allowance paid to a supplier
B. Extra allowance paid for guaranteeing recovery of debts
C. Allowance paid to all commission agents
D. 'allowance paid bythe agent
E. Allowances to ensure delivery of goods by commission agent

Question 13:

• WAEC 1995

Which of the following is classified as invisible item in_the balance of payments?

A. . Export of goods
B. Import of machinery
C. 1 Gifts
D. . Sale of assets
E. Salaries of expatriates

Question 14:

• WAEC 1995

Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller’s warehouse up to his own warehouse?

A. LOCO
B. F.O. R
C. F.A.S
D. C.I.F
E. C.F

Question 15:

• WAEC 1995

A trade in which many countries exchange goods and services is called?

A. Bilateral trade
B. Entrepot trade
C. Economic union
D. Multilateral trade
E. Counter trade