Waec Commerce Past Questions and Answers

Question 376:

• WAEC 1992

Which of the following organizations aim primarily at protecting the consumer?

A. Standards Organization of Nigeria
B. Chambers of Commerce
C. State Security Service
D. Nigeria Red Cross Society
E. Manufacturers Association of Nigeria

Question 377:

• WAEC 1992

A modern method of retailing whereby customers can make their purchases without the help of an assistance or cashier is called?

A. Impulse buying
B. One-step-shopping
C. Self service
D. Automatic vending
E. Auction sales

Question 378:

• WAEC 1992

A cheque that is drawn in the name of a bank instead of the account holder's name is called?

A. Bank statement
B. Bill of exchange
C. Specially crossed cheque
D. Certified cheque
E. Bank draft

Question 379:

• WAEC 1992

A deduction made by a wholesaler from the catalogue price and which represents a retailer's profit margin is called?

A. Cash discount
B. Deferred discount
C. Trade discount
D. Quantity discount
E. Cash on delivery

Question 380:

• WAEC 1992

A cheque dated 5/8/91 was dishonoured because it was a?

A. Certified cheque
B. Marked cheque
C. Specially crossed cheque
D. Post-dated cheque
E. Stale cheque