Waec Commerce Past Questions
Question 1
An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as
- A. del credere-agent
- B. general agent
- C. broker
- D. factor
- E. special agent
Question 2
If goods invoiced at #1,500 were sold to Etim at less 15% trade discount, he would pay
- A. #1,725.00
- B. #1,425.00
- C. #1,275.00
- D. #1,225.00
- E. #1,200.00
Question 3
When firms that operate at different stages in the production of a commodity merge, this is known as
- A. horizontal intergration
- B. vertical intergration
- C. absorption
- D. conglomerate
- E. cartel
Question 4
To which of the following occupations does a broker belong?
- A. Extractive
- B. Manufacturing
- C. Commercial
- D. Constructive
- E. Direct services
Question 5
Which of the following is used in home trade?
- A. Bill of lading
- B. Bank draft
- C. Letter of credit
- D. Certificate of origin
- E. Documentary credit
