Waec Commerce 1997 Past Questions and Answers

Question 6:

• WAEC 1997

Which of the following is the clearing house for all the banks in the country?

A. The Federal Mortgage Bank of Nigeria
B. The Nigerian Industrial Development Bank
C. The Central Bank of Nigeria
D. The Nigerian Bank for Commerce and Industry
E. The National Bank of Nigeria

Question 7:

• WAEC 1997

Commerce developed as a result of

A. Speculation
B. Competition
C. Specialization
D. Importation
E. Exportation

Question 8:

• WAEC 1997

An overdraft can only be granted to the holder of a

A. Fixed deposit
B. Savings deposit
C. Loan account
D. Current account
E. Deposit account

Question 9:

• WAEC 1997

Which of the following is not a source of capital to a partnership?

A. Buying on credit
B. Ploughed back profit
C. Borrowing
D. Shares
E. Personal savings

Question 10:

• WAEC 1997

Which of the following functions of the wholesaler helps to stabilize prices

A. Financing
B. Advice to retailers
C. Provision of credit
D. Advertising
E. Warehousing