Waec Commerce 2012 Past Questions and Answers

Question 41:

• WAEC 2012

The satisfaction of customers in all business activities is emphasized by

A. Market research
B. Marketing concept
C. Marketing mix
D. Product differentiation

Question 42:

• WAEC 2012

The document which is used when a country imposes ad valorem duties is

A. Bill of lading
B. Consular invoice
C. Certificate of origin
D. Open indent

Question 43:

• WAEC 2012

An activity involving buying, selling, distribution of goods and services is known as

A. Trade
B. Marketing mix
C. Exchange
D. Commerce

Question 44:

• WAEC 2012

Which of the following arrangement of documents is the correct sequence as used in the retail trade? i. Quotation ii. Enquiry iii.Order iv Invoice

A. I,ii,iii,iv
B. Ii,i,iii,iv
C. I,iv,iii only
D. I,iii,iv only

Question 45:

• WAEC 2012

Mr Lou who assured his life with XYZ Assurance Company, was involved in an accident and had a broken leg; the sum of #80,000 was paid to Mr Lou for his broken leg. The money received is known as

A. Compensation
B. Commission
C. Premium
D. Indemnity