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Commerce 2013 WAEC Past Questions

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1

A document used as a polite way of refusing credit is

  • A. advice note
  • B. quotation
  • C. proforma invoice
  • D. invoice
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2

Carriage forward on an invoice means

  • A. carriage will be paid next time
  • B. carriage will be paid by seller
  • C. carriage will be paid by buyer
  • D. carriage has been paid
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3
Which of the following will be suitable for hire purchase sale?
  • A. Shares
  • B. Refrigerator
  • C. Shoes
  • D. Textile
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4

A person who earns extra commission for guaranteeing debts is a

  • A. factor
  • B. broker
  • C. commission agent
  • D. del-credere agent
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5

An insurance principle that prevents a person from insuring what he does not stand to lose financially if the insured risk occurs is

  • A. indemnity
  • B. insurable interest
  • C. proximate cause
  • D. subrogation
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