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Commerce Past Questions and Answers

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Waec Commerce Questions

Question 501:

An agreement between two parties which can be enforced is called?

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A An agency
B A contract
C A consideration
D An offer
E A warranty

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Question 502:

Which of the following is not used by the Central Bank to restrict lending by commercial banks?

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A Management of national debt
B Reserve Requirement
C Open Market Operations
D Special Deposit
E Cash ratio

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Question 503:

Which of the following relies on the government for its initial capital?

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A Co-operative Society
B Private Limited Company
C Public Corporation
D Public Limited Company
E Credit and Thrift Society

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Question 504:

A cheque does not contain?

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A Cheque number
B Cashier's signature
C Payee's name
D Drawer's name
E Date of issue

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Question 505:

The most acceptance and convenient means of payment in foreign trade is?

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A Letter of credit
B Bank-draft
C Telegraphic money order
D Promissory note
E Bill of exchange

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