Waec Commerce 1997 Past Questions and Answers

Question 51:

• WAEC 1997

Which of the following is not a characteristic of Charter party?

A. It is a contract for carriage by sea
B. Its document shows freight charges and destination
C. There are time, voyage and charter by demise
D. The whole or part of a ship is leased
E. An association of ship owners

Question 52:

• WAEC 1997

Which of the following is issued to the exporter or his agent when the goods has been loaded in the ship?

A. Bill of exchange
B. Mate's reciept
C. Ship's manifest
D. Bill of sight
E. Customs declaration form

Question 53:

• WAEC 1997

A common carrier is

A. A car hire company
B. One who engages in the transportation of passengers only
C. An apprentice who helps his master to carry goods
D. A dealer in various brands of vehicles
E. One who engages in the transportation of goods and passengers for a fee

Question 54:

• WAEC 1997

The cost of goods sold divided by the average stock held during a trading period gives the

A. Gross profit
B. Net profit
C. Net sales
D. Rate of stock turnover
E. Sum of the opening and closing stock

Question 55:

• WAEC 1997

An organized market for securities is called

A. Money Market
B. Future Market
C. Stock Exchange Market
D. Spot Market
E. Hyper Market