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Commerce Past Questions and Answers

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Waec Commerce Questions

Question 471:

Which of the following is the safest means of sending a postal order from Lagos to a friend in Jos?

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A Registered letter
B Recorded delivery
C Railex
D First class mail
E Express mail

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Question 472:

Which of the following terms of price quotation includes cost of transportation to buyers premises?

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A FOB
B C & F
C FOR
D FAS
E Exship

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Question 473:

Net Profit is the?

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A Excess of income over expenses
B Total income from the sale of goods
C Difference between sales and purchases
D Amount of purchasenless closing stock
E Excess of total sales over total purchases

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Question 474:

Who is liable for the contract entered into the agent on behalf of his principal? The

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A Agent
B Principal
C Agent and principal
D Third party
E Lawyer who drew up the agreement

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Question 475:

An instalmental buying system where ownership immediately transfers to the buyer is known as?

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A Deferred payment
B Hire - purchase
C Spot buying
D Cash sales
E Prompt payment

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