Waec Commerce 2021 Past Questions and Answers

Question 31:

• WAEC 2021

One of the functions of a trade association is to

A. Provide infrastructure for members
B. Provide employment for members
C. Promote members' welfare
D. Pay members' salaries

Question 32:

• WAEC 2021

The practice of selling goods to a foreign country at lower prices than obtainable in the exporting country is

A. Speculation
B. Skimming
C. Hedging
D. Dumping

Question 33:

• WAEC 2021

A foreign order which instructs an agent to buy certain goods from a particular supplier is

A. Closed indent
B. Open indent
C. Letter of credit
D. Letter of enquiry

Question 34:

• WAEC 2021

Which of the following is not a condition for dissolution of a partnership?

A. Continuous disagreement among partners
B. Expiration of a business year
C. Mutual consent of the patners
D. Termination of the venture

Question 35:

• WAEC 2021

A country's balance of trade of -S20 million shows that its

A. Import volume is greater than export
B. Import and export volumes are equal
C. Export volume is greater than imports
D. Exports are mainly primary products