WAEC Commerce Past Questions & Answers - Page 237

1,181.

Which of the following is an example of a commercial occupation?

A.

Wrestling

B.

Welding

C.

Shipping

D.

Brick laying

E.

Tailoring

Correct answer is C

No explanation has been provided for this answer.

1,182.

An establishment that specializes in taking care of risks is called?

A.

a hire-purchase company

B.

an accepting house

C.

an insurance company

D.

a finance company

E.

a confirming house

Correct answer is C

No explanation has been provided for this answer.

1,183.

An association of firms, producing similar commodities, formed in order to keep up prices by restricting output is called?

A.

a chamber of commerce

B.

a customs union

C.

an amalgamation

D.

a cartel

E.

a combination

Correct answer is D

No explanation has been provided for this answer.

1,184.

The most acceptance and convenient means of payment in foreign trade is?

A.

letter of credit

B.

bank-draft

C.

telegraphic money order

D.

promissory note

E.

bill of exchange

Correct answer is A

No explanation has been provided for this answer.

1,185.

A cheque does not contain?

A.

cheque number

B.

cashier's signature

C.

payee's name

D.

drawer's name

E.

date of issue

Correct answer is B

No explanation has been provided for this answer.