Commerce 2008 Waec Past Questions and Answers

Question 51 :

• WAEC 2008

Explain the following insurance terms:
(a) proximate cause
(b) contribution
(c) utmost good faith
(d) re-insurance
(e) contract of non-indemnity (compensation).

Question 52 :

• WAEC 2008

List and explain four documents involved in the formation of a public limited company.

Question 53 :

• WAEC 2008

(a) Explain the following:
(i) counter trade
(ii) entrepot trade
(iii) import trade
(iv) invisible trade
(b) State four barriers to international trade.

Question 54 :

• WAEC 2008

(a) What is transportation?
(b) Explain dead freight.
(c) List and explain five factors that will determine a seller's mode of transportation.

Question 55 :

• WAEC 2008

(a) What is hire purchase?
(b) Give two advantages and two disadvantages each of hire purchase to
(i) the buyer
(ii) the seller.