Waec Commerce 2004 Past Questions and Answers

Question 26:

• WAEC 2004

Which of the following abbreviations permits the seller to correct any error in an invoice?

A. F.O.R
B. C.I.F
C. C.E % O.E
D. I.O.U

Question 27:

• WAEC 2004

C % F as a price quotation in foreign trade means that the buyer

A. Is responsible for clearing and forwarding the goods
B. Has to pay for cost and freight
C. Pays for both the freight and insurance
D. Pays for insurance only

Question 28:

• WAEC 2004

A bill of exchange is made more negotiable if it has been

A. Endorsed
B. Accepted
C. Honoured instantly
D. Given special crossing

Question 29:

• WAEC 2004

A bill of exchange is made up more negotiable if it has been

A. Endorsed
B. Accepted
C. Honoured instantly
D. Given special crossing

Question 30:

• WAEC 2004

The primary objective of insurance is to

A. Prevent accidents
B. Meet uncertainties in future
C. Give loan to business men
D. Control the flow of cash