Waec Commerce 1995 Past Questions and Answers

Question 16:

• WAEC 1995

Which of the following is used to ascertain the correct value of imports for purposes of assessing customs duty’

A. Certificate of origin
B. Open-indent
C. Bill of Lading
D. Ships manifest
E. Bill of entry

Question 17:

• WAEC 1995

The best method of making payment to an overseas supplier is by/

A. Bankdraft
B. Bill of exchange
C. Travellers cheque
D. Letter of credit
E. Certified cheque

Question 18:

• WAEC 1995

Are fund usually granted for goods imported and later re-exported is called?

A. Commission
B. Discount
C. Customs drawback
D. Dock due
E. Demurrage

Question 19:

• WAEC 1995

Which of the following is a declaration by the captain of a ship as to the cargo on board?

A. Bill of ladlng
B. Mates receipt
C. Ships manifest
D. Bill of sight
E. Dock warrant

Question 20:

• WAEC 1995

When the balance of trade is unfavourable which of the following conditions prevails?

A. Exports exceed imports
B. Imports exceed exports
C. Customs duty is high
D. Lnvisible exports exceed visible imports
E. The value money falls