Waec Commerce Past Questions and Answers

Question 1901:

• WAEC 2014

The ratio between a country's exports and her imports prices is the

A. Balance of trade
B. Balance of payments
C. Terms of trade
D. Exchange rate

Question 1902:

• WAEC 2014

The charge paid to a ship owner for the unused part of a ship is known as

A. Penalty
B. Dock dues
C. Dead freight
D. Demurrage

Question 1903:

• WAEC 2014

Fidelity guarantee insurance will only cover

A. Cashier's fraud
B. Daylight robbery
C. Loss of profit
D. Unpaid loan

Question 1904:

• WAEC 2014

In the absence of the bill of lading, which of the following is used o clear the goods

A. Bill of sight
B. Dock warrant
C. Certificate of Origin
D. Mate's receipt

Question 1905:

• WAEC 2014

A system of sales where goods are sold to the highest bidder is known as

A. Credit sale
B. Hire purchase
C. Clearance sale
D. Auction sale