Waec Commerce 2005 Past Questions and Answers

Question 51:

• WAEC 2005

Terms of trade is the

A. Rate at which the central bank discounts first class bills
B. Rate at which a country's exports exchange for its imports
C. Expected rate of returns on an investment
D. Rate of payment for goods and services purchased

Question 52:

• WAEC 2005

Which of the following encourages trade between regions?

A. Differences in currencies of countries
B. Difference in national income of countries
C. Existence of trade associations
D. Differences in natural resources

Question 53:

• WAEC 2005

Which of the following is not suitable for hire purchase?

A. Textiles
B. Furniture
C. Refrigerators
D. Printing machine

Question 54:

• WAEC 2005

A seller quoting his goods loco price means that

A. All charges are borne by the seller
B. All charges are borne by the buyer
C. The seller pays carriage as far as the buyers warehouse
D. The price includes cost, insurance and freight

Question 55:

• WAEC 2005

Which of the following is the correct sequence in which the following documents are used?

A. Order, delivery note, debit note, invoice, statement
B. Order, advice note, debit note,invoice,statement
C. Order, statement, delivery note, invoice, debit note
D. Order, delivery note, invoice, debit note, statement