Waec Commerce 2008 Past Questions and Answers

Question 11:

• WAEC 2008

If a ship overstays its stipulated time at a port, it pays a charge known as

A. Arbitrage
B. Demurrage
C. Dock due
D. Toll

Question 12:

• WAEC 2008

A transaction where the buyer of a commodity becomes its legal owner after the payment of the last installment is

A. A credit sale
B. Factoring
C. Hire purchase
D. Leasing

Question 13:

• WAEC 2008

An agreement whereby the seller transfers or agrees to transfer the property in goods for a monetary consideration is a

A. Contract of sale
B. Hire purchase
C. Conditional sale
D. Party selling

Question 14:

• WAEC 2008

The main purpose of sending delivery notes along with goods is to

A. Enable the goods to be checked on arrival
B. Enable the buyer to pay the correct delivery charges
C. Ensure the safe delivery of the goods
D. Prevent the goods from being stolen in transit

Question 15:

• WAEC 2008

A shop that sells only products of a particular manufacturer is known as

A. Mobile shop
B. Unit shop
C. Tied shop
D. Small shop