Waec Commerce 2000 Past Questions and Answers

Question 21:

• WAEC 2000

The abbreviation phrase E & OE is usually printed on?

A. An invoice
B. A cheque
C. A delivery note
D. A debit note

Question 22:

• WAEC 2000

Which of the following refers to a price reduction based on the size of order?

A. Cash account
B. Trader discount
C. Seasonal discount
D. Cash on discount

Question 23:

• WAEC 2000

Which of the following is not a means of payment in foreign trade?

A. Telegraphic money order
B. Specially crossed cheque
C. Letters of credit
D. Debit transfer

Question 24:

• WAEC 2000

A bill of exchanged on maturity is allowed?

A. Seven days of grace
B. Five days of grace
C. Four days of grace
D. Three days of grace

Question 25:

• WAEC 2000

Which of the following is not a financial institution?

A. Commodity Board
B. Insurnace company
C. Clearing house
D. Stock exchange