Waec Commerce Past Questions For Year 1997
Question 16
Mr Ojo paid Nnamdi the sum of #3,000 for a piece of land without their signing any deed of sale. Which of the following elements of contract is lacking in the transaction?
- A. Valuable consideration
- B. Formality
- C. Offer and acceptance
- D. Capacity
- E. Consensus ad idem
Question 17
An association that mobilizes the savings of members and channels them to needy members is known as
- A. Consumer Co-operative
- B. Producer Co-operative
- C. Thrift and Credit Co-operative
- D. Multi-purpose Co-operative
- E. Trade Union
Question 18
The fastest means of sending a printed message from Lagos to London is through
- A. aeroplane
- B. telephone
- C. cablegram
- D. telex
- E. courier
Question 19
Extractive occupation is an example of
- A. construction industry
- B. manufacturing industry
- C. tertiary industry
- D. primary industry
- E. secondary industry
Question 20
Which of the following is not a source of capital to a partnership?
- A. Buying on credit
- B. Ploughed back profit
- C. Borrowing
- D. Shares
- E. Personal savings
