Waec Commerce Past Questions and Answers

Question 711:

• WAEC 1996

The allowance given to a retailer to enable him make a profit is known as

A. Interest
B. Commission
C. Trade discount
D. Cash discount
E. Dividend

Question 712:

• WAEC 1996

One of the features of a supermarket is

A. Having similar shop fronts
B. Having many shops under one root
C. Selling common household goods
D. Having central control from headquarters
E. Selling without shops

Question 713:

• WAEC 1996

A group of public limited companies that commonly own a joint venture is known as

A. Holding company
B. Consortium
C. Cartel
D. Trust
E. Merger

Question 714:

• WAEC 1996

Which of the following clearly defines business?

A. The process of planning, coordinating, organising and controlling
B. The act of achieving goals with the help of others
C. The act of buying and selling
D. Sole proprietorship, Partnership and Public Limited Companies
E. Any productive activity undertaken for profit motive

Question 715:

• WAEC 1996

Which of the following ensures that the quality of a product is maintained?

A. Price Control Board
B. Chamber of Commerce
C. Food and Drugs Act
D. Standards Organisation of Nigeria
E. Manufactures Association of Nigeria