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Commerce 2021 WAEC Past Questions

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16

A country's balance of trade of -$20 million shows that its 

  • A. import volume is greater than export
  • B. import and export volumes are equal
  • C. export volume is greater than imports
  • D. exports are mainly primary products
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17

The collection of import duty is a function of the

  • A. ports authority
  • B. marketing boards
  • C. clearing and forwarding agents
  • D. customs and excise authority
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18

An error on an invoice may be rectified by issuing

  • A. an advice note
  • B. a consignment note
  • C. a credit note
  • D. a delivery note
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Use the information below to answer questions 20 and 21.

Opening stock 4000
Closing stock 12000
Purchases 17000

 

19

What is the average stock?

  • A. NI0,500
  • B. N8.500
  • C. N8,000
  • D. 6000
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20

The cost of goods sold is 

  • A. N4,000
  • B. N9,000
  • C. N16,000
  • D. N21,000
View Answer & Discuss (2) WAEC 2021
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