Waec Commerce 1996 Past Questions and Answers

Question 6:

• WAEC 1996

Industrial, commercial and direct services are branches of

A. Manufacturing
B. Occupation
C. Exchange
D. Distribution
E. Specialization

Question 7:

• WAEC 1996

The primary purpose of credit cards is to

A. Obtain goods without paying cash on the spot
B. Obtain a loan from the bank
C. Obtain a loan from a trader
D. Persuade a business man to cash a cheque
E. Provide a means of identifyng the holder

Question 8:

• WAEC 1996

Containers are suitable for transporting goods by

A. Sea only
B. Road only
C. Sea and rail only
D. Road and sea only
E. Road, sea and rail

Question 9:

• WAEC 1996

Which of the following is not a credit instrument used in business transactions?

A. Luncheon voucher
B. Bill of exchange
C. Promissory note
D. Bank note
E. Fuel voucher

Question 10:

• WAEC 1996

An insurance company shares its accepted risk with others in the form of

A. Reinsurance
B. Subrogation
C. Mutual insurance
D. Fidelity guarantee insurance
E. Contribution