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Commerce 2024 WAEC Past Questions

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21

A financial institution established to raise funds for people who wish to build homes is a

  • A. central bank
  • B. commercial bank.
  • C. development bank
  • D. mortgage bank
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22

The insurance policy that covers a company against cashiers' dishonesty is  

  • A. consequential loss
  • B. employers' liability
  • C. fidelity guarantee
  • D. third party
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23

Which of the following instruments is not a means of payment?

  • A. debit note
  • B. debit card
  • C. credit cards
  • D. bank notes
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24

To correct an overcharge for goods on an invoice, the seller sends the buyer 

  • A. an advice note
  • B. a credit note
  • C. a consignment note
  • D. a delivery note
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25

A market for long-term loans is the 

  • A. capital market
  • B. foreign exchange market
  • C. money market
  • D. new issues market
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