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Waec Commerce Past QuestionsQuestion 121:Which of the following statements best describes net profit? The excess of A. Total revenue over total expenditure B. Total capital income over expenditure C. Sales over purchases D. Total capital formation over capital consumption E. Total expenditure over total revenue Question 122:A business is in existence primarily to? A. Make profit B. Provide goods amd services C. Provide employment D. Complete with others in business E. Sell goods at reasonable prices Question 123:A number of shops under one roof is the feature of a? A. Supermarkets B. Chain stores C. Department store D. Mail order business E. Shopping centre Question 124:An agreement between two parties which will give rise to rights and obligation is known as? A. A warrant B. A contract C. A consideration D. An offer E. An acceptance Question 125:Auctions and Tenders become binding when they are? A. Accepted B. Offered C. Received D. Advertised E. Communicated |
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