Waec Commerce 1997 Past Questions and Answers

Question 91:

• WAEC 1997

Which of the following is not a function of merchant banks?

A. Granting long term loans
B. Advising corporate institutions
C. Underwriting shares
D. Discounting bills
E. Printing new bank notes

Question 92:

• WAEC 1997

A restriction on the quantity of a commodity that could be imported is known as

A. Licence
B. Price control
C. Quota
D. Tariff
E. Ban

Question 93:

• WAEC 1997

The art of combining human, material and other resources to achieve the stated goals of a business is known as

A. Planning
B. Controlling
C. Motivation
D. Directing
E. Organizing

Question 94:

• WAEC 1997

An agent with authority to bind his principal in everything, provided he acts lawfully is called

A. A del credere agent
B. A special agent
C. A universal agent
D. A factor
E. An aunctioneer

Question 95:

• WAEC 1997

Mr Ojo paid Nnamdi the sum of #3,000 for a piece of land without their signing any deed of sale. Which of the following elements of contract is lacking in the transaction?

A. Valuable consideration
B. Formality
C. Offer and acceptance
D. Capacity
E. Consensus ad idem