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Commerce 1997 WAEC Past Questions

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51
Which of the following is issued to the exporter or his agent when the goods has been loaded in the ship?
  • A. Bill of exchange
  • B. Mate's reciept
  • C. Ship's manifest
  • D. Bill of sight
  • E. Customs declaration form
View Answer & Discuss WAEC 1997
52
A common carrier is
  • A. a car hire company
  • B. one who engages in the transportation of passengers only
  • C. an apprentice who helps his master to carry goods
  • D. a dealer in various brands of vehicles
  • E. one who engages in the transportation of goods and passengers for a fee
View Answer & Discuss WAEC 1997
53
The cost of goods sold divided by the average stock held during a trading period gives the
  • A. gross profit
  • B. net profit
  • C. net sales
  • D. rate of stock turnover
  • E. sum of the opening and closing stock
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54
An organized market for securities is called
  • A. Money Market
  • B. Future Market
  • C. Stock Exchange Market
  • D. Spot Market
  • E. Hyper Market
View Answer & Discuss WAEC 1997
55
A carton of spoons valued at #3,000.00 was invoiced at #300 only. Which of the following documents would be used by the seller to correct the error?
  • A. A credit note for #3,300.00
  • B. A debit note for #3000.00
  • C. A credit note for #2,700.00
  • D. An invoice for #300.00
  • E. A debit note for #2,700.00
View Answer & Discuss WAEC 1997
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