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Commerce 2014 WAEC Past Questions

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1
A price quotation which includes all the expenses involved in loading the goods into a ship is
  • A. Free on Board (FOB)
  • B. Free Alongside Ship (FAS)
  • C. Cost, Insurance, Freight (C.I.F)
  • D. ex-ship
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2
Shares, bonds, stocks and debentures traded on the stock exchange are collectively called
  • A. collaterals
  • B. commodities
  • C. resources
  • D. securities
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3
In a hire purchase contract, the customer becomes the legal owner of the goods by
  • A. paying the last installment
  • B. paying the first installment
  • C. taking possession of the goods
  • D. paying half the purchase price
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4
Which of the following is engaged in commercial occupation?
  • A. a brick layer
  • B. an engineer
  • C. an insurance broker
  • D. a barber
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5
"Net 3 months" on an invoice means the buyer will
  • A. pay interest after 3 months
  • B. gets discount if he pays within 3 months
  • C. pay full invoice amount after 3 months
  • D. have discount if he pays after 3 months
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts