Waec Commerce 2004 Past Questions and Answers

Question 51:

• WAEC 2004

If a country wishes to discourage imports, it

A. Removes quotas
B. Encourages free trade
C. Imposes tariffs
D. Subsidizes exports

Question 52:

• WAEC 2004

Which of the following sources of capital to a business requires mortgaging specific asset

A. Overdraft
B. Ordinary shares
C. Fixed debenture
D. Trade credit

Question 53:

• WAEC 2004

Which of the following interest holders are settled first in case of a company's liquidation

A. Board of directors
B. Debenture holders
C. Ordinary shareholders
D. Preference shareholders

Question 54:

• WAEC 2004

The West African Clearing House(WACH)was established to

A. Dregde the rivers in West Africa for easy navigation
B. Expand the volume of traffic within member countries
C. Cordinate the efforts to member states to tap their natural resources
D. Promote the use of currencies of all members for inter regional trade

Question 55:

• WAEC 2004

(a) What is a Capital Market?
(b) State eight reasons why a bank may dishonour a cheque.