WAEC Past Questions and Answers - Page 143

711.

An association of small scale retailers formed to to encourage bulk buying from manufacturers is known as a

A.

voluntary chain

B.

producer co-operative society

C.

multiple store

D.

department store

E.

hypermarket

Correct answer is B

No explanation has been provided for this answer.

712.

The words "Account payee only" on a cheque means

A.

it is transferable

B.

pay only to the holders account

C.

a special crossing

D.

it is a banker's cheque

E.

it is for endorsement

Correct answer is B

No explanation has been provided for this answer.

713.

The set of actions of governments, and other organized bodies in response to users' complaints about goods and services is known as

A.

Consumer soveriegnty

B.

consumer protection

C.

consumer orientation

D.

consumer loyalty

E.

consumers' preference

Correct answer is B

No explanation has been provided for this answer.

714.

Which of the following brings a public corporation into existence

A.

Certificate of Incorporation

B.

Certificate of trading

C.

Acts of Parliament

D.

Registeration

E.

Prospectus

Correct answer is C

No explanation has been provided for this answer.

715.

A contract to take possession of goods on installment payment with the option to transfer ownership after full payment is known as

A.

credit sale

B.

conditional sale

C.

hire purchase

D.

trade-in-sale

E.

leasing

Correct answer is C

No explanation has been provided for this answer.