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1886
The cost of goods sold divided by the average stock held during a trading period gives the
  • A. gross profit
  • B. net profit
  • C. net sales
  • D. rate of stock turnover
  • E. sum of the opening and closing stock
View Answer & Discuss WAEC 1997
1887
An organized market for securities is called
  • A. Money Market
  • B. Future Market
  • C. Stock Exchange Market
  • D. Spot Market
  • E. Hyper Market
View Answer & Discuss WAEC 1997
1888
A carton of spoons valued at #3,000.00 was invoiced at #300 only. Which of the following documents would be used by the seller to correct the error?
  • A. A credit note for #3,300.00
  • B. A debit note for #3000.00
  • C. A credit note for #2,700.00
  • D. An invoice for #300.00
  • E. A debit note for #2,700.00
View Answer & Discuss WAEC 1997
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1889
Which of the following is not a means by which banks facilitate foreign trade?
  • A. Currency exchange
  • B. Letter of credit
  • C. Open market operations
  • D. Discounting Bills of exchange
  • E. Trade reference
View Answer & Discuss WAEC 1997
1890
Which of the following is a characteristic of a private company?
  • A. There is no limit to the number of members
  • B. Shares and debentures are freely offered to the public
  • C. Shares are not dealt in on the stock exchange
  • D. It cannot commence trading on receipt of certificate of incorporation
  • E. there is no statutory general meeting
View Answer & Discuss WAEC 1997
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