Waec Commerce 1999 Past Questions and Answers

Question 41:

• WAEC 1999

Which of the following implies that the price quoted includes the cost of insurance and carriage?

A. F.O.B
B. F.A.S
C. C.O.D
D. C.I.F

Question 42:

• WAEC 1999

Bonded warehouses are controlled by

A. Export Promotion Council
B. Ports Authority
C. Customs and Excise Authority
D. Clearing and Forwarding agents

Question 43:

• WAEC 1999

A hire purchase transaction becomes a sale when when the

A. Hirer accepts the hire purchase terms
B. Finance company agrees to pay
C. Hirer takes possession of goods
D. Hirer pays full cost of the goods

Question 44:

• WAEC 1999

Which of the following serves as a receipt for goods kept in a bonded warehouse?

A. Dock Warrant
B. Bill of Sight
C. Foul bill
D. Dock due

Question 45:

• WAEC 1999

Which of the following have lien on goods in their possession until their commission is paid?

A. Brokers
B. Factors
C. Auctioneers
D. Wholesale merchants