Waec Commerce 2001 Past Questions and Answers

Question 21:

• WAEC 2001

A person which decides what to produce and combines the other factors of production is the?

A. Entrepreneur
B. Distributor
C. Engineer
D. Retailer

Question 22:

• WAEC 2001

The authority given to a bank to make regular payments on behalf of a customer for a specified purpose is known as?

A. Bank draft
B. Credit transfer
C. Standing order
D. Certified cheque

Question 23:

• WAEC 2001

A bundle of shares is called?

A. Stock
B. Bonus issue
C. Debenture
D. Rights issue

Question 24:

• WAEC 2001

Agriculture operative banks are best classified under?

A. Commercial banks
B. Savings banks
C. Merchant banks
D. Specialized banks

Question 25:

• WAEC 2001

Which of the following is a creditor legally bound to accept for settlement of a debt?

A. Bank draft
B. Bank note
C. Money order
D. Cheque