Waec Commerce 2016 Past Questions and Answers

Question 16:

• WAEC 2016

use the following information relating to Bala enterprises to anwser the question

	N
premises	32,000
motor vehicle	15,000
debtors	15,000
stock	20,000
creditors	10,000

the value of fixed assets

A. N72,000
B. N47,000
C. N35,000
D. N25,000

Question 17:

• WAEC 2016

A clean bill of lading is so called because?

A. It shows record of damaged goods
B. It is not a stained bill
C. It is a document of authority
D. It shows no record of damaged goods

Question 18:

• WAEC 2016

when an importer has been overcharged for goods supplied, the exporter issues him with a?

A. Debit note
B. Preforma invoice
C. Letter of credit
D. Credit note

Question 19:

• WAEC 2016

fidelity guarantee insurance is a cover against loss arising from

A. Trade debt
B. Personal accident
C. Dishonest staff
D. Fire disaster

Question 20:

• WAEC 2016

when a cheque is paid on a bank on which it is drawn, the cheque is

A. Discounted
B. Debited
C. Credited
D. Cleared