Waec Commerce 2012 Past Questions and Answers

Question 31:

• WAEC 2012

The assets of a business that is available for cash or near cash is called

A. Equity
B. Capital employed
C. Received capital
D. Liquid capital

Question 32:

• WAEC 2012

The bank on which a cheque is drawn is known as the

A. Drawer
B. Drawee
C. Cashier
D. Payee

Question 33:

• WAEC 2012

A percentage reduction from the quoted price of goods given to a buyer to encourage bulk purchase is called

A. Cash discount
B. Trade discount
C. Commission
D. Bonus

Question 34:

• WAEC 2012

The difference between the cost price and selling price of an article is

A. Commission
B. Mark-up
C. Rebate
D. Discount

Question 35:

• WAEC 2012

A ceiling on the quantity of commodity to be imported into the country is called

A. Ban
B. Tariff
C. Price limit
D. Quota