Waec Commerce 2011 Past Questions and Answers

Question 21:

• WAEC 2011

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.
What is the rate of turnover?

A. 13.5 times
B. 10.8 times
C. 9 times
D. 5.4 times

Question 22:

• WAEC 2011

In marine insurance, when a particular cargo is thrown into the sea in order to prevent the ship from sinking, the type of marine loss is

A. Particular average loss
B. General average loss
C. Total average loss
D. Constructive average loss

Question 23:

• WAEC 2011

The turnover of a trade is the

A. Number of times the stock is sold
B. Total sales made during a period
C. Profit made during the period
D. Total purchases made during the period

Question 24:

• WAEC 2011

The total assets of a business less its total liability is known as

A. Capital owned
B. Share capital
C. Issued capital
D. Working capital

Question 25:

• WAEC 2011

A document issued to the public by a company to advertise its share is known as

A. Prospectus
B. Tender
C. Share certificate
D. Trading certificate