WAEC Past Questions and Answers - Page 157

781.

An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as

A.

del credere-agent

B.

general agent

C.

broker

D.

factor

E.

special agent

Correct answer is D

No explanation has been provided for this answer.

782.

If goods invoiced at #1,500 were sold to Etim at less 15% trade discount, he would pay

A.

#1,725.00

B.

#1,425.00

C.

#1,275.00

D.

#1,225.00

E.

#1,200.00

Correct answer is C

No explanation has been provided for this answer.

784.

Who among the following has no right of ownership to a business organization?

A.

Shareholder

B.

Enterpreneur

C.

Partner

D.

Debenture holder

E.

Sole-proprietor

Correct answer is D

No explanation has been provided for this answer.

785.

The imposition of high tariff on imported goods by the customs authority is to

A.

protect businessmen

B.

encourage imports

C.

encourage the consumption of foreign goods

D.

discourage exports

E.

protect infant industries

Correct answer is E

No explanation has been provided for this answer.