Waec Commerce 2014 Past Questions and Answers

Question 6:

• WAEC 2014

"Net 3 months" on an invoice means the buyer will

A. Pay interest after 3 months
B. Gets discount if he pays within 3 months
C. Pay full invoice amount after 3 months
D. Have discount if he pays after 3 months

Question 7:

• WAEC 2014

The ratio between a country's exports and her imports prices is the

A. Balance of trade
B. Balance of payments
C. Terms of trade
D. Exchange rate

Question 8:

• WAEC 2014

The charge paid to a ship owner for the unused part of a ship is known as

A. Penalty
B. Dock dues
C. Dead freight
D. Demurrage

Question 9:

• WAEC 2014

Fidelity guarantee insurance will only cover

A. Cashier's fraud
B. Daylight robbery
C. Loss of profit
D. Unpaid loan

Question 10:

• WAEC 2014

In the absence of the bill of lading, which of the following is used o clear the goods

A. Bill of sight
B. Dock warrant
C. Certificate of Origin
D. Mate's receipt