Waec Commerce 2006 Past Questions and Answers

Question 11:

• WAEC 2006

Which of the following is used only in international trade?

A. Letter of inquiry
B. Certificate of origin
C. Pro-forma invoice
D. Consignment note

Question 12:

• WAEC 2006

The following information relates to Mallam Amidu Kachella for the year ended 31/12/2005.
#
Opening stock 4,000
Purchases 16,000
Sales 30,000
Debtors 6,500
Creditors 4,200
Cash in hand 800
Closing stock 5,600
Bank overdraft 3,000
The average stock is

A. #1,600
B. #4,800
C. #5,600
D. #9,600

Question 13:

• WAEC 2006

When the public wants to buy more of a company's share than has been offered for sale, the share is said to be

A. Rights issue
B. Over subscribed
C. Qouted at a premium
D. Over-valued

Question 14:

• WAEC 2006

Which of the following goods has the lowest rate of turnover?

A. Staple foods
B. Office stationery
C. Refrigerator
D. School exercise books

Question 15:

• WAEC 2006

Which of the following is not a duty of a credit union?

A. Helping members to save
B. Granting loans
C. Advising on the use of funds
D. Confirming members' indebtedness