WASSCE COMMERCE MAY/JUNE 2018 (SSCE WAEC MAY/JUNE 2018 COMMERCE)
1
A document through which invitation is extended to the public to subscribe to shares is?
A. article of association
B. memorandum of association
C. prospectus
D. qoutation
2
Activities which fascilitates commerce include
A. engaging youths in environmental sanitation
B. funding political campaigns
C. providing recreational facilities
D. improving road network
3
A person authorized to sell the property of a company in a winding up is
A. an auctioneer
B. an agent
C. a liquidator
D. a bailee
4
one example of of a product of a construction industry is a
A. chair
B. bag of cement
C. piece of cloth
D. television
5
one disadvantage of a sole proprietorship is?
A. quick decision making
B. unlimited liability
C. pride of ownership
D. unlimited source of capital
6
which of the following is a source of short term finance
A. hire purchase
B. overdraft
C. lease
D. debenture
7
The portion of share capital which the company has asked shareholder to pay is?
A. called-up capital
B. authorized capital
C. paid-up capital
D. unpaid capital
8
multilateral trade is carried out
A. between two countries only
B. within many countries
C. among many countries
D. between neighbouring countries only
9
An association of businesses engaged in both trade and industry is a?
A. co-operative society
B. trade union
C. trust fund
D. chamber of commerce
10
which of the following statement is true of a debenture?
A. its holders receive interest
B. it forms part of a company's authorized capital
C. its owners are co-owners of the company
D. its owners control the company
11
The path through which a product moves from the manufacturer to the consumer is a?
A. channel of communication
B. line of production
C. means of transportation
D. channel of distribution
12
If the opening stock of Ali ltd is N40,000, cost of goods sold is N48,000 and closing stock is N24,000, its rate of turn over will be?
A. 1.2 times
B. 1.5 times
C. 2.0 times
D. 7.5 times
13
A business which requires a certificate of trading in order to commence operation is a?
A. co-operative society
B. private company
C. sole propietorship
D. public company
14
Exchange of goods in international market which does not involve the use of money is a
A. barter trade
B. entreport trade
C. counter trade
D. bilateral trade
15
which of the following features is not associated with a chamber of commerce? it is
A. democratically administered
B. an independent association
C. open only to entrepreneurs
D. a voluntary association
16
The reason for sending a proforma invoice to a potential customer is that it is?
A. an indication of the seller's willingness to grant credit
B. a polite way of telling the customer to return the goods
C. an invitation to the buyer to buy on hire purchase
D. a polite way of refusing to sell on credit
17
The insurance policy taken to cover dishonesty of account personnel of an organisation is?
A. employers laibility
B. fidelity guarantee
C. life endowment
D. marine insurance
18
which of the following documents is used when goods are being sent by a common carrier
A. delivery note
B. consignment note
C. advice note
D. credit note
19
A put option in the stock exchange is an option
A. to sell
B. not to sell
C. to buy
D. not to buy
20
The functions of money do not include
A. store of value
B. medium of exchange
C. double coincidence of wants
D. means of deferred payment
21
A document of title to goods written by the ship owner specifying that certain goods are being conveyed in the ship is the?
A. bill of sale
B. bill of sight
C. bill of entry
D. bill of lading
22
informative advertisig is aimed at?
A. giving advice on the use of a product
B. influencing customers to buy a product
C. giving gifts to attract customers
D. encouraging specific customers to buy a product
23
A cheap means of carrying bulky goods over long distance is by?
A. rail
B. road
C. air
D. pipeline
24
A contract terminated by the occurence of an event which makes performance impossible is discharged by?
A. breach
B. agreement
C. frustration
D. performance
25
An individual employed to act on behalf of another within a specified guideline is?
A. a jobber
B. an agent
C. a broker
D. a distributor
26
which of the following is not a component of the marketing mix
A. price
B. place
C. population
D. product
27
A method of buying in anticipation of price fluctuation in the commodity market is?
A. speculation
B. arbitrage
C. contango
D. hedging
28
A shipping document detailing the charges for carrying a particular cargo for a specified voyage is?
A. dock warrant
B. freight note
C. bill of lading
D. mate's receipt
29
commercial agents who are authorized to keep goods untill they are sold are?
A. factors
B. distributors
C. brokers
D. auctioneers
30
An advertisement method whose objective is to convince customers to buy a product is?
A. informative advertisement
B. persuasive advertising
C. competitive advertising
D. mass advertisement
31
A government legislation which ensures that quality goods and services are available to customers is?
A. hire purchase act
B. copyright act
C. price control act
D. standard organisation act
32
a bank draft is a cheque drawn by a bank on?
A. another bank
B. itself
C. creditors
D. customers' deposits
33
which of the following functions is not performed by the export promption council
A. prevention of importation of harmful goods
B. provision of credit facilities to exporters
C. provision of technical advice to exporters
D. creation of export free zones
34
Activities undertaken to creat awareness of a product by giving out samples or gifts is?
A. marketing mix
B. marketing concepts
C. window display
D. sales promotion
35
an advantage of privatizing a firm is that it?
A. becomes more efficient
B. sells goods at low prices
C. employs more workers
D. attracts more customers
36
a transfer of authority from a superior officer to his subordinate in an organisation is?
A. controlling
B. decentralization
C. delegation
D. directing
37
The provision of scholarship by a firm to needy students is part of its?
38
The provision of scholarship by a firm to needy students is part of its?
A. political responsibility
B. economic responsibility
C. social responsibility
D. legal reponsibility
39
How many countries form ECOWAS
A. 17
B. 16
C. 15
D. 14
40
which of the following is the modern means of communication
A. grape vine
B. email
C. whistles
D. town crier
41
A company is qouted on the stock exchange when its shares are?
A. put under private payment
B. not for sale to the public
C. listed for sale on the exchange
D. owned by the government
42
A system of issueing new shares to selected investors instead of the general public is?
A. public offer
B. issue by tender
C. offer for sale
D. private placement
43
one of the aims of the European union is to?
A. ease trade among member countries
B. enhance better trade with Africa
C. enhance free trade with America
D. offer financial assistance to poor countries
44
the time allowed for loading and unloading a ship at the harbour is?
A. demurrage
B. tenure
C. lay days
D. dead freight
45
The inter bank indebtedness is settled at the
A. clearing house
B. money market
C. discount house
D. stock exchange
46
The concern of a marketing manager whose company has adopted the marketing mix concept is to?
A. recruit more
B. make maximum profit
C. identify and satisfy customers needs
D. maintain the company's share of the market
47
The purpose of commercialization is to?
A. encourage the participation of the private sector
B. make state-owned firms more efficient
C. encourage the flow of foreign capital
D. enable state-owned firms pay tax
48
Which of the following is a legal tender?
A. Cheque
B. Travellers cheque
C. Bank note
D. Goldsmith receipt
49
Labour as an input in production can be motivated by
A. training
B. profit
C. remuneration
D. promotion
50
The minimum lending rate of a bank is a component of its
A. current assets
B. debit balances
C. credit balance
D. fixed assets