Waec Commerce Past Questions and Answers

Question 456:

• WAEC 1993

A bank whose name is printed on a cheque leaf is known as the?

A. Drawer
B. Payer
C. Drawee
D. Payee
E. Acceptor

Question 457:

• WAEC 1993

A person who wants to undertake an insurance policy usually completes?

A. A proposal form
B. A promotion form
C. An application form
D. An agreement form
E. A subscription form

Question 458:

• WAEC 1993

The capital that is needed to meet the day-to-day running of a business is the?

A. Fixed capital
B. Reserved capital
C. Circulating capital
D. Liquid capital
E. Capital employed

Question 459:

• WAEC 1993

An association of local,independent retailers formed to encourage buying in bulk from manufacturers is known as?

A. Voluntary chain
B. Producer co-operative society
C. Multiple store
D. Departmental store
E. Hypermarket

Question 460:

• WAEC 1993

Third party insurance covers, damages?

A. To both passengers and the vehicle
B. Caused by the vehicle insured
C. To all parties concerned
D. To both vehicles involved
E. To the insured vehicle only