Waec Commerce 1998 Past Questions and Answers

Question 56:

• WAEC 1998

The words "Account payee only" on a cheque means

A. It is transferable
B. Pay only to the holders account
C. A special crossing
D. It is a banker's cheque
E. It is for endorsement

Question 57:

• WAEC 1998

An association of small scale retailers formed to to encourage bulk buying from manufacturers is known as a

A. Voluntary chain
B. Producer co-operative society
C. Multiple store
D. Department store
E. Hypermarket

Question 58:

• WAEC 1998

The agency in Nigeria which ensures that products conform to government specifications and quality control is the

A. Nigerian Labour Congress
B. Manufacturers Association of Nigeria
C. Nigerian Chamber of Commerce
D. Standards Organization of Nigeria
E. Ministry of Commerce and Industry

Question 59:

• WAEC 1998

The management of a company with a view to ending its operation is known as

A. Low gearing
B. High gearing
C. Liquidation
D. Horizontal integration
E. Vertical integration

Question 60:

• WAEC 1998

Any action taken by a company outside its stated objectives is regarded as

A. Caveat emptor
B. Ultra vires
C. Uberrimae fidei
D. Exemption
E. Formality