WAEC SSCE - Commerce - 2011 (Objective)

Which of the following is not a member of the Lake Chad Basin Commission

When C.I.F is quoted on an invoice, it means that the price includes the

The development of commerce was encouraged by the desire to

Which of the following is not a principle of insurance

Banks settle their indebtedness in the

When consumers engage in actions that express dissatisfaction with the quantity, price and quality of goods available, such action is termed

The main divisions of production are

An overdraft is

When the government gives up its ownership and control of a business to individuals, this is known as

Using symbols, letters, name or combination of these by a company to distinguish its products is

Which of the following are elements of a valid contract?

That portion of the share capital which the company has asked the shareholders to pay for is known as

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.

What is the cost of goods sold?

Encouraging a high quality of members' products through the circulation of research information is a function of

The completion of the production process by grading and branding of goods is a function of the

The last link in the channel of distribution is the

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.

What is the rate of turnover?

Rights issue is the

A cheque dated 15th March 2012, will become stale on

Before the advent of legal tender and credit instrument, which of the following was used as a medium of exchanged?

The total assets of a business less its total liability is known as

One of the advantages of air transport over other forms of transport is

Which of the following is a means of payment?

Which of the following is not a function of Ports Authority?

In marine insurance, when a particular cargo is thrown into the sea in order to prevent the ship from sinking, the type of marine loss is

Which of the following distinguishes home trade from foreign trade?

If Karamo who lives in The Gambia imports goods from Senegal and later sells them in Guinea Bissau; Karamo is engaged in

Taxes on imported foreign goods are also known as

The relationship which subsists between between two or more persons carrying on a business with a view to profit" is

A document issued to the public by a company to advertise its share is known as

Manufacturers may sell goods directly to consumers where goods are i. made to customer's specification ii. advertised by the manufacturer iii. perishable iv. highly technical v. widely demanded

Liquid capital in a business means the

The co-operative society that performs a combination of the functions of other types of cooperatives is called

Payment to a ship owner for carrying one's cargo is

The reward received by a party in a contract agreement is known as

The par value of a share is also known as its

The turnover of a trade is the

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.

The average stock is

Which of the following is not pre-sale service?

Trade as a division of commerce is usually classified into

Shipping services rendered by Nigeria to The Gambia would be classified by The Gambia as

A voluntary association of business executives within a locality is known as

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.

What is the cost of goods sold?

A false statement made by one party with an intention of inducing to enter into a contract with him is known as