Waec Commerce Past Questions For Year 1997
Question 21
An overdraft can only be granted to the holder of a
- A. fixed deposit
- B. savings deposit
- C. loan account
- D. current account
- E. deposit account
Question 22
Commerce developed as a result of
- A. speculation
- B. competition
- C. specialization
- D. importation
- E. exportation
Question 23
Which of the following is the clearing house for all the banks in the country?
- A. The Federal Mortgage Bank of Nigeria
- B. The Nigerian Industrial Development Bank
- C. The Central Bank of Nigeria
- D. The Nigerian Bank for Commerce and Industry
- E. The National Bank of Nigeria
Question 24
If Ade issues a Union Bank cheque to Chukwu, the Union Bank is the
- A. drawee
- B. payee
- C. drawer
- D. acceptor
- E. creditor
Question 25
Who among the following comes first in the channel of distribution?
- A. Consumer
- B. Retailer
- C. Consignor
- D. Manufacturer
- E. Wholesaler
