Waec Commerce 2015 Past Questions and Answers

Question 21:

• WAEC 2015

The term utmost good faith in insurance means?

A. Both the insured and insurer must disclose all information
B. Only the insurer must disclose all information
C. The beneficiary must disclose all information
D. Only the insured must disclose all information

Question 22:

• WAEC 2015

Which of the following business units enjoys government subsidies

A. Private limited company
B. Limited partnership
C. Public limited company
D. Public enterprises

Question 23:

• WAEC 2015

Duty drawback refers to duties paid on?

A. Exported goods produced with local content
B. Re-exported goods previously imported
C. Imported goods for sale locally
D. Locally manufactured goods for sale locally

Question 24:

• WAEC 2015

The capital used in the day to day running of a business is?

A. Nominal capital
B. Working capital
C. Paid up capital
D. Authorized capital

Question 25:

• WAEC 2015

Which of the following is classified under current assets

A. Machinery
B. Motor vehicle
C. Stock
D. Fittings