WAEC Commerce Past Questions & Answers - Page 244

1,216.

Third party insurance covers, damages?

A.

to both passengers and the vehicle

B.

caused by the vehicle insured

C.

to all parties concerned

D.

to both vehicles involved

E.

to the insured vehicle only

Correct answer is B

No explanation has been provided for this answer.

1,217.

An association of local,independent retailers formed to encourage buying in bulk from manufacturers is known as?

A.

voluntary chain

B.

producer co-operative society

C.

multiple store

D.

departmental store

E.

hypermarket

Correct answer is B

No explanation has been provided for this answer.

1,218.

The capital that is needed to meet the day-to-day running of a business is the?

A.

fixed capital

B.

reserved capital

C.

circulating capital

D.

liquid capital

E.

capital employed

Correct answer is C

No explanation has been provided for this answer.

1,219.

A person who wants to undertake an insurance policy usually completes?

A.

a proposal form

B.

a promotion form

C.

an application form

D.

an agreement form

E.

a subscription form

Correct answer is A

No explanation has been provided for this answer.

1,220.

A bank whose name is printed on a cheque leaf is known as the?

A.

drawer

B.

payer

C.

drawee

D.

payee

E.

acceptor

Correct answer is C

No explanation has been provided for this answer.