Waec Commerce Past Questions For Year 1996
Question 6
The difference between the total amount of money received by a country and the total amount paid to other countries within a given period is the
- A. trade gap
- B. balance of trade
- C. balance of payments
- D. current account balance
- E. terms of trade
Question 7
The process of involving local businessmen in the ownership and control of businesses that were formerly owned by foreigners is called
- A. nationalization
- B. industrialization
- C. indeginization
- D. commercialization
- E. privatization
Question 8
Which of the following stresses the use of only specialists to head departments?
- A. Committee organisation structure
- B. Line organisation structure
- C. line and staff organisation structure
- D. Functional organisation structure
- E. Centralization
Question 9
An insurance company shares its accepted risk with others in the form of
- A. reinsurance
- B. subrogation
- C. mutual insurance
- D. fidelity guarantee insurance
- E. contribution
Question 10
Which of the following is not a credit instrument used in business transactions?
- A. Luncheon voucher
- B. Bill of exchange
- C. Promissory note
- D. Bank note
- E. Fuel voucher
