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Home
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Commerce
WAEC 1991
Commerce 1991 WAEC Past Questions
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Introduction to Commerce
Meaning, scope, characteristics and functions of Commerce
History of Commerce
Relationship of Commerce with other areas of production
Importance of Commerce in the economy
Occupations
Meaning and Importance
Types of occupations: Industrial, commercial, direct and indirect services
Factors influencing choice of occupation
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Role of Bureau de Change
Trade Associations and Economic Groups
Trade and manufacturer associations
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Trade - Home Trade
Retail trade: Types, functions, advantages and disadvantages, trends
Wholesale trade: Types, functions
Warehousing: Types, functions
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Balance of trade/payment, terms of trade
Export, import and entrepôt procedures and documents
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Roles of Customs, Excise, Ports Authority
Purchase and Sale of Goods
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Terms of trade: Discounts, C.O.D., C.I.F., F.O.B.
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Legal Aspects of Business
Simple contract
Agency, Sale of Goods Act, Hire Purchase Act
Employer/employee rights
Government regulations
Consumer protection
ICT in Commerce
Computer applications
ICT terms
E-commerce, E-banking, E-business
Business Environment and Social Responsibility
Types of environment
Safe products and pollution
Corporate social responsibility
Nationalisation, Indigenisation and Divestiture
Meaning, aims, advantages, disadvantages
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91
The system of parting with authority not responsibility is known as?
A.
controlling
B.
planning
C.
delegating
D.
movtivating
E.
co-ordinating
View Answer & Discuss
WAEC 1991
92
That part of the money in circulation not backed by gold is known as?
A.
exchange equalization fund
B.
fiduciary issue
C.
note and coins
D.
ordinary note issue
E.
fictitious assets
View Answer & Discuss
WAEC 1991
93
A document sent to a customer at regular price intervals to enable him know his indebtedness to his supplier is known as?
A.
debit note
B.
invoice
C.
statement
D.
receipt
E.
consignment note
View Answer & Discuss
WAEC 1991
94
A document sent to a customer at regular price intervals to enable him know his indebtedness to his supplier is known as?
A.
debit note
B.
invoice
C.
statement
D.
receipt
E.
consignment note
View Answer & Discuss
WAEC 1991
95
Who is liable for the contact entered into by the agent on behalf of his principal? The
A.
agent
B.
principal
C.
agent and the principal
D.
third party
E.
lawyer who drew up the agreement
View Answer & Discuss
WAEC 1991
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