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Commerce Past Questions and Answers

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Waec Commerce Questions

Question 451:

When an insured person admits that he has indemnified, he means that?

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A The insurance company has accepted his claim
B The damaged properties has been recovered
C He has paid his premium fully
D The insurance company has restored him to his formal position
E He has recovered benefits lost through acting in bad faith

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Question 452:

The different between an overdraft and loan is that an overdraft?

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A Does not yield interest
B Is giving to savings account holders only
C Yields interest on the customer before it is granted?
D Yields interest only on the sum drawn
E Requires no application by the customer before it is granted

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Question 453:

The excess value of the assets of a business over its liabilities is?

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A Capital owned
B Working capital
C Issued capital
D Liquid capital
E Reserved capital

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Question 454:

Cash is said to be legal tender because it?

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A Can be converted into money order
B Can be offered and accepted for payment
C Is negotiable
D Also takes the form of bank draft
E Is portable

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Question 455:

A crossed postal order is?

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A Generally acceptable for payment
B Easily converted to cash
C The same as money order
D Cashed through a bank
E Cashed through a post office

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