Commerce 2001 Waec Past Questions and Answers

Question 56 :

• WAEC 2001

(a) What is a bill of lading?
(b) State six contents of a bill of lading.
(c) Distinguish between a clean bill of lading a-a foul bill of lading

Question 57 :

• WAEC 2001

(a) State any four rights of an unpaid seller of goods
(b) Give six duties of an agent to the principal

Question 58 :

• WAEC 2001

Fred Asamah had the following state of affairs as at 31st December, 1999
Vehicles 82,000
Furniture 15,000
Stocks 38,000
Debtors 25,000
Creditors 30,000
Cash in hand 10,000
Bank overdraft 5,000
Capital 135,000
(a) Calculate: (i) the current assets of the business (ii)current liabilities (iii) its working capital
(b)What is a current asset? (c) State one significance

Question 59 :

• WAEC 2001

(a) Explain uninsurable risks and list two types of such risks
(b) Write short notes on the following: (i) Hull surance (ii) Fidelity guarantee insurance (iii) Underwriter (iv) Insurance Premium