Commerce 2002 Waec Past Questions and Answers

Question 56 :

• WAEC 2002

(a) Give four reasons why retail shops adopt self service.
(b) Explain six facilities that a retail shop should have to encourage self service.

Question 57 :

• WAEC 2002

Explain five measures taken by a country to:
(a) restrict imports
(b) promote exports

Question 58 :

• WAEC 2002

(a) What is an advertising medium?
(b) Mention eight advertising media.
(c) Give five factors to be considered before choosing an advertising medium.

Question 59 :

• WAEC 2002

(a) Explain the following: (i) turnover (ii) rate of turnover (iii) net profit
(b) The following information is taken from the balance sheet of XYZ Ltd:
N
opening stock 1,000
purchases 10,000
sales 15,000
wages 1,000
closing stock 5,000You are required to calculate:
(i) the cost of goods sold
(ii) the rate of turnover
(iii) net profit

Question 60 :

• WAEC 2002

Give two uses of each of the following documents:
(a) price list
(b) delivery note
(c) consignment note
(d) advice note
(e) proforma invoice