Waec Commerce Past Questions and Answers

Question 596:

• WAEC 1995

The best method of making payment to an overseas supplier is by/

A. Bankdraft
B. Bill of exchange
C. Travellers cheque
D. Letter of credit
E. Certified cheque

Question 597:

• WAEC 1995

Are fund usually granted for goods imported and later re-exported is called?

A. Commission
B. Discount
C. Customs drawback
D. Dock due
E. Demurrage

Question 598:

• WAEC 1995

Which of the following is a declaration by the captain of a ship as to the cargo on board?

A. Bill of ladlng
B. Mates receipt
C. Ships manifest
D. Bill of sight
E. Dock warrant

Question 599:

• WAEC 1995

When the balance of trade is unfavourable which of the following conditions prevails?

A. Exports exceed imports
B. Imports exceed exports
C. Customs duty is high
D. Lnvisible exports exceed visible imports
E. The value money falls

Question 600:

• WAEC 1995

When a seller decides to sell his goods at a specific price for a specific period, he is making?

A. A sales promotion
B. A bid
C. An auction sale
D. A firm offer
E. An implied guarantee