COMMERCE 101

WAEC QUESTIONS CONTD

Hey Readers, Happy New Week. Well its Holiday Season so it's time to slow down on the tutorials and intensify the questions revision from JAMB, GCE, WAEC etc in order to remember what we have done previously and to test ourselves. We started Last week and we are continuing today, So let's get started.......

25. Information requested from a Bank Concerning the Credit worthiness of a New Customer to a Business is

a. Private Enquiry

b. Status Enquiry

c. General Enquiry            

d. Letter of Enquiry.

26. The Document which gives Legal Authority to a Company to operate as a Legal Entity is

a. Memorandum of Association

b. Article of Association

c. Share Certificate

d. Certificate of Incorporation.

27. A Business that is independent of its owners is a

a. Sole Proprietorship

b. Partnership

c. Limited Liability Company

d. Co-operative Society.

28. The Amount paid regularly by the assured to the insurer is

a. Dividend

b. Premium

c. Interest

d. Indemnity.

29. Net Profit is calculated as

a. Sales - Purchases

b. Sales - Expenses

c. Gross Profit - Expenses

d. Gross Profit - Purchases.

30. Which of the Following carries Specialized Goods?

a. Liner

b. Tramp

c. Ferry

d. Tanker.

31. In Sea Transport, Vessels that operate on Fixed Routes and Schedules are called

a. Ferries

b. Yachts

c. Liners

d. Tramps.

32. Which of the following Advertising Media combines the Advantages of both Sight and Sound?

a. Television

b. Radio

c. Neon Sign

d. Billboard.

33. One disadvantage of Advertising to the Consumer is that it

a. Brings Confusion on the Choice of Goods

b. Increases Demand

c. Persuades the Public to buy what they need

d. Decreases the Cost of Goods.

34. Which of the following is not a Sales Promotion Method?

a. Demonstration

b. Exhibition

c. Free Sample

d. Newspaper.

35. Working Capital is

a. Current Assets - Total Liabilities

b. Total Assets - Total Liabilities

c. Current Liabilities + Current Assets

d. Current Assets - Current Liabilities.

36. A Cheque dated 30th July, 2004 but presented for Payment on 28th February, 2005 is

a. Post-Dated

b. Crossed

c. Opened

d. Stale.

NOTE: ALL THE QUESTIONS IN THIS POST ARE CREDITED TO WEST AFRICA EXAM COUNCIL 2008 PAPERS. THANKS

This brings us to the end of today's session. Hope this was very helpful to you, leave a comment of what you think of this tutorial and Pls try to attempt the Questions on your own. Have a Blessed Day and Remember You are Amazing. God Bless.