WASSCE COMMERCE MAY/JUNE 2017 (SSCE WAEC MAY/JUNE 2017 COMMERCE)

1. Commercial activities received a great boost in West Africa due to contact with?

 

A. Asians

B. Europeans

C. Americans

D. Africans

2

The job of the polic in keeping law and order in the society is?

 

A. a commercial service

B. an indirect service

C. a direct service

D. a self service

E. specialized service

3

A business which becomes insolvent may result in

 

A. continuity

B. expansion

C. liquidation

D. re-incorporation

4

which of the follwing does not belong to the extractive occupation?

 

A. quarrying

B. carving

C. mining

D. agriculture

5

The major division of commerce are?

 

A. import, export and transportation

B. trade, communication and warehouse

C. import, trade and production

D. trade and auxiliaries to trade

 

 

6

A memorandum of association is a document

 

A. defining a company's relationship with the public

B. inviting the public to buy a company's shares

C. governing the affairs of the partnership

D. regulating a company's internal affairs

7

The main purpose of branding is to?

 

A. increase the quantity of goods demanded

B. increase the selling price of goods

C. differentiate goods from other similar goods

D. enhance turnover of goods

8

The facility which is not provide by the port authority is?

 

A. berth

B. warehouse

C. tarmac

D. cranes

9

A cheque could be dishonoured as a result of?

 

A. same amount in words and figure

B. insufficient fund

C. general crossing

D. regular signature

10

when a company sells shares to existing shareholders at preferential rate, this is

 

A. a right issue

B. bonus issue

C. private placing

D. issue by introduction

 

11

The conversion of raw materials into finished goods is performed by?

 

A. extractive industry

B. service occupation

C. commercial occupation

D. the manufacturing industry

12

which of the following is not a factor of production

 

A. capital

B. labour

C. exchange

D. entrepreneurship

Adama's opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000

 

13

what is the average stock

 

A. D12,000

B. D7,000

C. D6,000

D. D5,000

14

What is the cost of goods sold

 

A. D55000

B. D42,000

C. D32,000

D. D28,000

15

What is the rate of stock turnover.

 

A. 11 times

B. 6 times

C. 4.7 times

D. 4 times

 

 

16

which of the following is a source of short term capital.

 

A. trade credit

B. shares

C. leasing

D. debenture

17

The most suitable channel for the sale of an aircraft is?

 

A. manufacturer-wholesaler-retailer-consumer

B. manufacture-wholesaler-consumer

C. manufacturer - retailer - consumer

D. manufacturer - consumer

18

The duty payable on goods produced locally iis

 

A. export duty

B. excise duty

C. import duty

D. advalorem duty

19

An overdraft is granted to holders of?

 

A. savings accounts

B. loan accounts

C. deposit accounts

D. current accounts

20

The amount of capital used in the day-to-day running of a company is?

 

A. working capital

B. capital emplyed

C. share capital

D. fixed capital

 

21

an example of an invisible item of trade is?

 

A. oil

B. shipping

C. machinery

D. textile

22

in a hire purchase agreement, the buyer is the

 

A. agent

B. hirer

C. lesse

D. lessor

23

which of the following terms is not used in price quotation for goods

 

A. E. & O,E

B. C.I.F

C. EX works

D. F.A.S

24

Mr ojo paid Noak the sum of N3,000 for a piece of land without signing a deed of sale. the lement of contract which is lacking is?

 

A. valuable consideration

B. formality

C. offer and acceptance

D. capacity

25

which of the following documents is used in home trade only

 

A. bill of lading

B. airway bill

C. certificate of origin

D. proforma invoice

 

 

26

the central bank carries out its monetary policy through?

 

A. discounting bills

B. credit ceilling

C. replacement of worn out notes

D. bank rates

27

the expert reponsible for the calculation of prabability of risk in insurance is?

 

A. an actuary

B. an underwriter

C. a broker

D. a solicitor

28

A disadvantage of rail transport is that?

 

A. it carries bulky goods only

B. the cost of carriage is high

C. it is not flexible

D. it travels on schedule

29

the advertising medium that makes only audio impression is

 

A. cinema

B. radio

C. television

D. hoardings

30

A speculator in the stock exchange market who sells securities in anticipation of a fall in their prices

 

A. broker

B. bull

C. bear

D. stag

 

 

31

which of the following activities is aimed at closing sales.

 

A. insurance

B. banking

C. warehousing

D. advertising

32

a machine supplied by a post office to an organisation to imprints stamps on their letters is?

 

A. vending machin

B. shredding machine

C. automated teller machine

D. franking machine

33

an agreement between two people which can be  enforced is?

 

A. a warranty

A. a contract

B. an offer

D. a consideration

34

the marketing mix element which ensures that goods are available where and when needed is?

 

A. place

B. price

C. product

D. promotion

35

an example of a computer output device is a?

 

A. keyboard

B. mouse

C. monitor

D. scanner

 

 

36

ocean liners are vessels that?

 

A. sail at schedule time on fixed routes

A. sail anytime to anyplace where there is cargo

C. carry only cargo

D. carry only liquid

37

The process of placing the right people in the right position in an organisation is?

 

A. planning

B. motivating

C. staffing

D. directing

38

The right of an unpaid seller doesnt include?

 

A. declaring the buyer bankrupt

B. retaining the possession of the goods

C. stopping the goods while in transit

D. reselling the goods

39

The coming together of people who engage in trade and industry in a particular area is?

 

A. an employers association

B. a trade association

C. a chamber of commerce

D. a trade union

40

The term which enjoins a buyer to examine goods thoroughly before making payment is?

 

A. uberimae fidei

B. caveat venditor

C. consumer sovereignty

D. caveat emptor

 

41

which of the following is not a tool for sale

 

A. publicity

B. exhibition

C. competition

D. free samples

42

The organisation of local and international trade fairs is the responsibilty of

 

A. trade aasociations

B. labour unions

C. chamber of commerce

D. custom and excise authorities

43

under the principle of subrogation, the insurer has the right to?

 

A. abrogate the contract

B. re-insure the property

C. take over any legal rights of the insured

D. take over all the liabilities of the insured

44

the law that protects a musician's work from piracy is?

 

A. usury law

B. copyright law

C. trademark

D. hire purchase

45

which of the following countries is a member of the lake chad basin commission

 

A. The Gambia

B. Cameroon

C. Ghana

D. Guinea

 

 

46

which of the following is a type of marine insurance.

 

A. endowment

B. hull

C. fidelity

D. accident

47

The tranfer of government businesses to individuals is?

 

A. commercialization

B. privatization

C. deregulation

D. nationalization

48

one of the aims of ECOWAS is to?

 

A. discourage foreign investors

B. promote privatization policy

C. ensure production of quality goods

D. promote trade within the region

49

which of the following bussinesses relies on government subvention for its operation?

 

A. public corporation

B. public limited liability company

C. co-operative society

D. private limited liability company

50

Balance of payment deficit may be caused by?

 

A. revaluation of currency

B. sales of foreign reserves

C. unrestricted exports

D. unrestricted imports