Waec Commerce Past Questions and Answers

Question 291:

• WAEC 1991

Which of the following is mostly used in Nigeria for setting business transactions?

A. Credit transfer
B. Standing order
C. Cheques
D. Bank notes and coins
E. Bank drafts

Question 292:

• WAEC 1991

When an order cheque is endorsed it becomes?

A. A bearer cheque
B. A certified cheque
C. An open cheque
D. A confirmed cheque
E. A dishonoured cheque

Question 293:

• WAEC 1991

Which of the following requires acceptance bythe editor to make it valuable?

A. Postal order
B. Cheque
C. Promissory note
D. Bill of exchange
E. Bill of lading

Question 294:

• WAEC 1991

Which of the following is not a reason for imposing custom duty? The need to

A. Raise revenue
B. Protect home industry
C. Prevent dumping
D. Decrease the volume of world trade
E. Retaliate

Question 295:

• WAEC 1991

Which of the following was the chief means of transport during the Tran-Saharan Trade?

A. Motor lorries
B. Horses
C. Camels
D. Aeroplanes
E. Barges