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Commerce 2011 WAEC Past Questions

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21

In marine insurance, when a particular cargo is thrown into the sea in order to prevent the ship from sinking, the type of marine loss is

  • A. particular average loss
  • B. general average loss
  • C. total average loss
  • D. constructive average loss
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22

The turnover of a trade is the

  • A. number of times the stock is sold
  • B. total sales made during a period
  • C. profit made during the period
  • D. total purchases made during the period
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23

The total assets of a business less its total liability is known as

  • A. capital owned
  • B. share capital
  • C. issued capital
  • D. working capital
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24

A document issued to the public by a company to advertise its share is known as

  • A. prospectus
  • B. tender
  • C. share certificate
  • D. trading certificate
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25

An overdraft is

  • A. amount permitted to be withdrawn in excess of one's deposit
  • B. excessive cash withdrawn by commercial banks from the Central Bank
  • C. credit balance standing in the name of a customer
  • D. special deposits made by commercial banks
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts