Waec Commerce Past Questions
Question 11
Which of the following is not a function of merchant banks?
- A. Granting long term loans
- B. Advising corporate institutions
- C. Underwriting shares
- D. Discounting bills
- E. Printing new bank notes
Question 12
The document which gives the current price and terms of trade of a product is called?
- A. a letter of credit
- B. an invoice
- C. an advice note
- D. a consignment note
- E. an order form
Question 13
Commerce is concerned mainly with the
- A. production of goods and services
- B. distribution of goods and services
- C. consumption of goods and services
- D. storing of goods
- E. advertising of goods
Question 14
When a bill of exchange is signed by a debtor, it is said to be
- A. accepted
- B. negotiated
- C. honoured
- D. protested
- E. accomodated
Question 15
The payment made to the insured for loss incurred is
- A. premium
- B. indemnity
- C. ex gratia payment
- D. surrender value
- E. interest
