Waec Commerce Past Questions and Answers

Question 591:

• WAEC 1995

Del-credere commission is an?

A. Allowance paid to a supplier
B. Extra allowance paid for guaranteeing recovery of debts
C. Allowance paid to all commission agents
D. 'allowance paid bythe agent
E. Allowances to ensure delivery of goods by commission agent

Question 592:

• WAEC 1995

Which of the following is classified as invisible item in_the balance of payments?

A. . Export of goods
B. Import of machinery
C. 1 Gifts
D. . Sale of assets
E. Salaries of expatriates

Question 593:

• WAEC 1995

Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller’s warehouse up to his own warehouse?

A. LOCO
B. F.O. R
C. F.A.S
D. C.I.F
E. C.F

Question 594:

• WAEC 1995

A trade in which many countries exchange goods and services is called?

A. Bilateral trade
B. Entrepot trade
C. Economic union
D. Multilateral trade
E. Counter trade

Question 595:

• WAEC 1995

Which of the following is used to ascertain the correct value of imports for purposes of assessing customs duty’

A. Certificate of origin
B. Open-indent
C. Bill of Lading
D. Ships manifest
E. Bill of entry