Waec Commerce 2000 Past Questions and Answers

Question 11:

• WAEC 2000

A consignment note is used when?

A. Goods are wrapped and labelled for easy identification
B. Goods are dispatched to agent through transporters
C. Damaged goods are being returned
D. There is over-invoicing

Question 12:

• WAEC 2000

Which of the following is not contained in an advice note?

A. Types of goods
B. Price of goods
C. Date of dispatch
D. Means of dispatch

Question 13:

• WAEC 2000

A refund of the duty collected on goods imported and processed for re-export is?

A. Excise duty
B. Excise draw back
C. Preferential duty
D. Value added tax

Question 14:

• WAEC 2000

When a country's total visible and invisible exports are more than its visible and invisible imports, it has?

A. Favourable balance of payments
B. Favourable balance of trade
C. Unfavourable balance of trade
D. Unfavourable balance of payment

Question 15:

• WAEC 2000

When a country's total visible and invisible exports are more than its visible and invisible imports, it has?

A. Favourable balance of payments
B. Favourable balance of trade
C. Unfavourable balance of trade
D. Unfavourable balance of payment