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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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2006
One way of importing goods without the use of foreign exchange is through
  • A. exchange controls
  • B. entrepot trade
  • C. quota
  • D. tarriffs
  • E. counter trade
View Answer & Discuss WAEC 1998
2007
Balance of trade is said to be favourable when
  • A. visible imports exceed visible imports
  • B. invisible exports exceed visible imports
  • C. invisible imports exceed visible exports
  • D. visible exports exceed visible imports
  • E. visible exports exceed invinsible imports
View Answer & Discuss WAEC 1998
2008
The basic principles upon which International Trade is carried on among countries is
  • A. specialization
  • B. absolute cost advantage
  • C. comparative cost advantage
  • D. division of labour
  • E. scarcity
View Answer & Discuss WAEC 1998
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2009
A supplier who needs to make additional charges for goods delivered will send
  • A. a debit note
  • B. a credit note
  • C. a consignment note
  • D. a advice note
  • E. a delivery note
View Answer & Discuss WAEC 1998
2010
Gross profit is correctly ascertained by
  • A. adding opening stock to purchases
  • B. adding closing stock to sales
  • C. subtracting returns outwards from purchases
  • D. subtracting returns inwards from sales
  • E. subtracting cost of goods sold from sales
View Answer & Discuss WAEC 1998
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