WAEC Past Questions and Answers - Page 123

611.

XYZ Ltd's total sales was #100,000. It had opening stock of #20,000 and closing stock of #22,000. It bought goods worth #80,000 and paid #2,000 for rent.

XYZ Ltd's profit is

A.

#58,000.00

B.

#42,000.00

C.

#38,000.00

D.

#22,000.00

E.

#20,000.00

Correct answer is D

No explanation has been provided for this answer.

612.

The time allowed for unloading and loading ships is referred to as

A.

days of grace

B.

charter by demise

C.

voyage charter

D.

time charter

E.

lay days

Correct answer is E

No explanation has been provided for this answer.

613.

Price lists, catalogues and COD are mainly used in operating

A.

chain stores

B.

supermarkets

C.

department stores

D.

mail order business

E.

hypermarkets

Correct answer is D

No explanation has been provided for this answer.

614.

Which of the following is not a method of selling

A.

Self-services

B.

Exhibition

C.

Mail Order

D.

Stock control

E.

Automatic vending

Correct answer is D

No explanation has been provided for this answer.

615.

The Third Party Motor Vehicle Insurance Policy covers damages

A.

to both passengers and vehicle

B.

caused by the vehicle insured

C.

to all parties concerned

D.

to all vehicles involved

E.

to the insured vehicle only

Correct answer is B

No explanation has been provided for this answer.