WAEC Commerce Past Questions & Answers - Page 122

606.

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

Correct answer is A

No explanation has been provided for this answer.

607.

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

Correct answer is C

No explanation has been provided for this answer.

608.

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

Correct answer is D

No explanation has been provided for this answer.

609.

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

Correct answer is E

No explanation has been provided for this answer.

610.

Which of the following assists a Nigerian producer to participate in trade fairs and exhibitions abroad?

A.

Nigerian Ports Plc

B.

Shipping and Clearing Agents

C.

Federal Airports Authority of Nigeria

D.

Customs and Excise Authority

E.

Nigerian Exports Promotion Council

Correct answer is E

No explanation has been provided for this answer.