WAEC Commerce Past Questions & Answers - Page 112

556.

A contract of sale of goods where ownership passes to the buyer on the payment of first installment is

A.

hire purchase

B.

cash with order

C.

deferred payment

D.

cash on delivery

Correct answer is C

No explanation has been provided for this answer.

557.

A picture which indicates that success in life can only be achieved through the use of the product is an example of

A.

market research

B.

persuasive advertising

C.

mass selling

D.

informative advertising

Correct answer is B

No explanation has been provided for this answer.

558.

Which of the following have lien on goods in their possession until their commission is paid?

A.

Brokers

B.

Factors

C.

Auctioneers

D.

Wholesale merchants

Correct answer is B

No explanation has been provided for this answer.

559.

Which of the following serves as a receipt for goods kept in a bonded warehouse?

A.

Dock Warrant

B.

Bill of Sight

C.

Foul bill

D.

Dock due

Correct answer is A

No explanation has been provided for this answer.

560.

A hire purchase transaction becomes a sale when when the

A.

hirer accepts the hire purchase terms

B.

finance company agrees to pay

C.

hirer takes possession of goods

D.

hirer pays full cost of the goods

Correct answer is D

No explanation has been provided for this answer.