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THEORY QUESTIONS

WAEC SYLLABUS

1. The practice of giving a particular name to a product by a manufacturer is?

A. Branding

B. Standardization

C. Publicity

D. Advertising

2. An extra communication paid to an agent who guarantees credit sales made by him is:

A. Del-credit

B. Guarantor’s fee

C. Jobber’s turn

D. Brokerage

3. A professional in insurance who elevate the level of loss for claims is an?

A. Adjuster

B. assessor

C. underwriter

D. Actuary

4. The insurance services rendered to a foreign shipping company are treated as

A. invisible export

B. invisible import

C. visible export

D. balance trade

5. Dividing the market for a product according to potential buyers who have common characteristics is?

A. Market analysis

B. market penetration

C. market segmentation

D. market research

ANSWERS

6. Which of the following aids to trade facilitate production ahead of demand

A. Insurance

B. Transportation

C. Advertising

D. warehousing

7. When a government acquires business enterprise formerly owned by individuals, it is termed

A. Commercialization

B. Indigenization

C. Privatization

D. Nationalization

8. How many countries make up the River Niger basin Commission?

A. 16

B. 12

C. 10

D.

9 9. Which of the following means payment makes the bank both the drawer and drawee?

A. Standing order

B. Bill of exchange

C. Backdrafts

D. open cheque

10. An. Association that protects the intrest of members in the same line of business is a

A. Consumer Association

B. Trade union

C. Trade

D. Chamber of Commerce

ANSWERS

Use the following information to answer questions 11 and 13

Bamidele Co. Ltd’s has authorized capital of 40,000,000 0r dinary shares of N4 each. Share issued and fully paid are 25,000,000.

11. The value of Bamidele Co. Ltd’s authorized share capital is

A. N160,000,000

B. N100,000,000

C. N65,000,000

D N40,000,000

12. The value of the issued capital of the company is

A. N160,000,000

B. N100,000,000

C. N60,000,000

D N15,000,000

13. The unissued capital amounts to

A. N160,000,000

B. N100,000,000

C. N60,000,000

D N15,000,000

14. Which of the following aids to trade is used to stimulate demand for goods?

A. Banking

B. Transportation

C. Insurance

D. Advertising

15. The term consumer sovereignty means that the?

A. Seller is king

B. Product is supreme

C. Buyer is king

D. producer is the king

ANSWERS

16. Which of the following activities is classified under extractive industry

A. Exploration of minerals

B. Construction of roads

C. Canning of tomato purees

D. Assembling of Cars

Use the following information below to answer questions 17 and 18

BYX Enterprise has the following balance at the end of March 2010

Opening Stock....................... D 6,000

Purchases.............................. D 23,000

Salaries and wages............... D 12,000

Closing Stock........................ D 8,000

Sales....................................... D 30,000

17. Calculate the gross profit of BYN enterprise

A. D 13,000

B. 3.5 time

C. 3.0 times

D. 1.5 times

18. What is the rate gross of turnover of BYN Enterprise?

A. 5.0 times

B. 3.5 times

C. 3,0 times

D. 1.5 times

19. Which of the following workers is engaged in construction occupation

A. Mason

B. Shop Assistant

C. Farmer

D. Train Driver

20. A cheque which the bank refused to pay because the drawer had insufficient fund in his account is

A. A bounced cheque

B. a bearer cheque

C. a crossed cheque

D. an order cheque

ANSWERS

21. Which of the following is a function of the retailer to the wholesaler?

A. Providing after sales service

B. Providing information on market trends

C. Sales of variety of goods

D. Sales of goods in smaller quantities

22. The term utmost good faith in insurance means

A. Both the insured and the insurer must disclose all information

B. Only the insurer must disclose all information

C. The beneficiary must disclose all information

D. Only the insured must disclosed all information

23. Which of the following business unit enjoy government subsidies?

A. Private limited company

B. Limited partnership

C. Public Limited company

D. Public corporation

24. Duty drawback refers to duties paid on

A. Exported goods produce with local content

B. Re-exported goods previously imported

C. Imported goods for sale locally

D. Locally manufactured goods for sale locally

25. The capital that is used in the day-to-day running of a business is

A. Nominal capital

B. Working capital

C. Paid up capital

D. Authorized capital

ANSWERS

26. Which of the following is classified under current asset?

A. Machinery

B. Motor vehicle

C. Stock

D. Fittings

27. The reduction in value of a country’s currency in relation to other is

A. Redenomination

B. Devaluation

C. Inflation

D. Deflation

28. Retail outlet which sell from specialized van are called

A. Supermarkets

B. Multiple shops

C. Mail order firms

D. Mobile shops

29. Which of the following is an aspect of marketing concept?

A. Product differentiation

B. Sales orientation

C. Consumer orientation

D. Price differentiation

30. The practices of selling goods in foreign market at a price lower than the cost price is

A. Fair trade

B. Under invoicing

C. Hedging

D. Dumping

ANSWERS

31. A cheque made payable to a name person is

A. a cross cheque

B. a certified cheque

C. an order cheque

D. a confirmed cheque

32. A house insured against damage by floods was burnt down and the owner had no claim. Which of the following principle prevent him from making a claim?

A. Indemnity

B. Contribution

C. Insurable interest

D. Proximate cause

33. The market for short term capital is called

A. Commodity market

B. Discount market

C. Money market

D. Stock market

34. Which of the following principles of insurance stipulates that the insured must be in a position to suffer financial loss?

A. Indemnity

B. Proximate cause

C. Insurance interest

D. Subrogation

35. When share are sold ‘ex-div’ it means the

A. Buyer is entitled to the next dividend

B. Shares are sold at par

C. Share are sold above par

D. Seller has right to the next dividend

ANSWERS

36. Turnover could be increase by

A. Increasing prices and products differentiation

B. Advertising and cutting prices

C. Refusing credits and customer services

D. Increasing the mark up and margin

37. Commerce started as a result of

A. Speculation

B. Competition

C. Specialization

D. Nationalization

38. Which of the following is used for making payments to many people in single cheque?

A. Debit transfer

B. Certified cheque

C. Bank draft

D. Credit transfer

39. Equity interest in a company is represented by

A. Preference share

B. Dividend

C. Debenture

D. Ordinary share

40. When two insurers are liable under a given common policy, the principle of insurance that applied is?

A. Indemnity

B. Subrogation

C. Proximate cause

D. contribution

ANSWERS

41. All activities aimed at creation of a good image for an organization are referred to as?

A. Market segmentation

B. Market research

C. Public relation

D. Consumer orientation

42. Which of the following is a disadvantage of foreign trade?

A. It encourage dumping

B. It widen the world market

C. It encourage specialization

D. It provides variety of goods

43. A study to discover consumers’ preferences and needs is called

A. Market segmentation

B. Consumer orientation

C. Market research

D. Marketing mix

44. Which of the following is disadvantage of retailing?

A. Selling on credit

B. Lower price of goods

C. Selling in smaller quantities

D. Location at convenient places

45. A private limited liability company differs from a public limited liabilities company because it?

A. Does not issue its share to the public

B. Has separate entity

C. Has many directors

D. Is a going concern

ANSWERS

46. A tax charged in proportion to the value of imported goods is

A. Specific duty

B. Ad valorem duty

C. Custom duty

D. Excise duty

47. Which of the following is a reason for the failure of public corporation?

A. Legal requirements

B. Inadequate funding

C. Political stability

D. Lack of competition

48. The factor that is not considered when determining the means of transport suitable for cargo is?

A. Size

B. Weight

C. Manufacturer

D. Perishability

49. Which of the following is a document of title to goods?

A. Bill of exchange

B. Bill of entry

C. Letter of hypothecation

D. Bill of lading

50. The fee paid for transporting goods by ship is

A. Far

B. Freight

C. Durrage

D. Wages

To Top

Q 1-10

Q 11-20

Q 21-30

Q 31-40

Q 41-50

To 2014

To 2016

To En-Schoolcert

ensofts

Candle Light To The World

COMMERCE (Objective Questions And Answers)

WASSCE 2015

Objectives

copyright:ensoft2024. company@en-soft.com Phone:2347072716127

ensofts

Candle Light To The World

COMMERCE (Objective Questions And Answers)

WASSCE 2015Objectives

copyright:ensoft2024. company@en-soft.com Phone:2347072716127

WASSCE 2015

Objectives