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Commerce 2012 WAEC Past Questions

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16

A licensed person who is authorized to sell to the highest bidder is

  • A. principal
  • B. factor
  • C. broker
  • D. auctioneer
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17

An efficient transport system enables a trader to

  • A. widen the market for his products
  • B. avoid customs examination of goods
  • C. adopt better price policy
  • D. reduce cost of production
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18

The Central Bank's monetary policy instrument by which it buys and sells treasury bills is known as

  • A. Open Market Operation
  • B. Bank rate
  • C. Cash reserve ratio
  • D. Special deposit
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19

Which of the following acted as the central bank for West African countries before their independence?

  • A. The West African Clearing House
  • B. The British Bank for West Africa
  • C. The West African Currency Board
  • D. The African Development Bank
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20

Current account holders withdraw money by means of

  • A. credit card
  • B. draft
  • C. withdrawal form
  • D. cheque
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