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Commerce 1999 WAEC Past Questions

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21
What is the purpose of a debit note? To
  • A. reduce the credit in the buyer's account
  • B. reduce the debit charged to an invoice
  • C. compensate for damaged goods returned
  • D. allow for rebate
View Answer & Discuss WAEC 1999
22
Status enquiry is necessary when
  • A. goods are ordered from a mail order firm
  • B. money is withdrawn from a fixed deposit account
  • C. granting credit to a new customer
  • D. goods areproduced according to specification
View Answer & Discuss WAEC 1999
23
Trade discount is given to the buyer for
  • A. prompt payment
  • B. credit purchase
  • C. cash purchase
  • D. retailer's mark-up
View Answer & Discuss WAEC 1999
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24
Government can borrow money from the public through
  • A. the issuing of treasury bills
  • B. increasing taxation
  • C. increasing the lending rate
  • D. establishing more banks
View Answer & Discuss WAEC 1999
25
Insurance is necessary because of the need to
  • A. pool resources together
  • B. meet uncertainties in future
  • C. make profit
  • D. lend money to individuals
View Answer & Discuss WAEC 1999
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