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Commerce 2012 WAEC Past Questions

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6

A cheque drawn by a bank on itself is a/an

  • A. direct debit
  • B. bank draft
  • C. bank transfer
  • D. overdraft
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7

A voluntary body formed by people in the same line of business for the purpose of protecting their interest is a

  • A. trade association
  • B. trade union
  • C. chamber of commerce
  • D. trading partnership
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8

Those who are engaged in the distribution of goods belong to

  • A. commercial occupation
  • B. extractive industry
  • C. manufacturing industry
  • D. construction industry
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9

When an insurance policy is declared void because of a false declaration ; the principle involved is

  • A. indemnity
  • B. subrogation
  • C. proximate cause
  • D. utmost good faith
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10

Buildings and machinery used in the running of a business are examples of

  • A. current assets
  • B. intangible assets
  • C. liquid assets
  • D. fixed assets
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