WAEC Commerce Past Questions & Answers - Page 222

1,106.

Which of the following is a declaration by the captain of a ship as to the cargo on board?

A.

Bill of ladlng

B.

Mates receipt

C.

Ships manifest

D.

Bill of sight

E.

Dock warrant

Correct answer is C

No explanation has been provided for this answer.

1,107.

Are fund usually granted for goods imported and later re-exported is called?

A.

commission

B.

discount

C.

customs drawback

D.

dock due

E.

demurrage

Correct answer is C

No explanation has been provided for this answer.

1,108.

The best method of making payment to an overseas supplier is by

A.

bankdraft

B.

bill of exchange

C.

travellers cheque

D.

letter of credit

E.

certified cheque

Correct answer is D

No explanation has been provided for this answer.

1,109.

Which of the following is used to ascertain the correct value of imports for purposes of assessing customs duty

A.

Certificate of origin

B.

Open-indent

C.

Bill of Lading

D.

Ships manifest

E.

Bill of entry

Correct answer is C

No explanation has been provided for this answer.

1,110.

A trade in which many countries exchange goods and services is called?

A.

bilateral trade

B.

entrepot trade

C.

economic union

D.

multilateral trade

E.

counter trade

Correct answer is D

No explanation has been provided for this answer.