Commerce WAEC - Page 287 of 333

A system of sales where goods are sold to the highest bidder is known as?

A. credit sale B. hire purchase C. clearance sale D. auction sale Correct Answer: Option D D. auction sale

In the absence of the bill of lading, which of the following is used o clear the goods?

A. Bill of sight B. Dock warrant C. Certificate of Origin D. Mate’s receipt Correct Answer: Option C C. Certificate of Origin

Fidelity guarantee insurance will only cover?

by Sunday | Mar 16 | Commerce WAEC

A. cashier’s fraud B. daylight robbery C. loss of profit D. unpaid loan Correct Answer: Option A

The charge paid to a ship owner for the unused part of a ship is known as?

by Sunday | Mar 16 | Commerce WAEC

A. penalty B. dock dues C. dead freight D. demurrage Correct Answer: Option C C. dead freight

The ratio between a country’s exports and her imports prices is the?

by Sunday | Mar 16 | Commerce WAEC

A. balance of trade B. balance of payments C. terms of trade D. exchange rate Correct Answer: Option C C. terms of trade

“Net 3 months” on an invoice means the buyer will?

by Sunday | Mar 16 | Commerce WAEC

A. pay interest after 3 months B. gets discount if he pays within 3 months C. pay full invoice amount after 3 months D. have discount if he pays after 3 months Correct Answer: Option B B. gets discount if he pays within 3 months

A system of sales where goods are sold to the highest bidder is known as?

In the absence of the bill of lading, which of the following is used o clear the goods?

Fidelity guarantee insurance will only cover?

The charge paid to a ship owner for the unused part of a ship is known as?

The ratio between a country’s exports and her imports prices is the?

“Net 3 months” on an invoice means the buyer will?

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