WAEC Past Questions and Answers - Page 433

2,161.

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.

2,162.

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.

2,163.

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.

2,164.

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.

2,165.

A crossed postal order is?

A.

generally acceptable for payment

B.

easily converted to cash

C.

the same as money order

D.

cashed through a bank

E.

cashed through a post office

Correct answer is E

No explanation has been provided for this answer.