WAEC Commerce Past Questions & Answers - Page 177

881.

The process of involving local businessmen in the ownership and control of businesses that were formerly owned by foreigners is called

A.

nationalization

B.

industrialization

C.

indeginization

D.

commercialization

E.

privatization

Correct answer is C

No explanation has been provided for this answer.

882.

Which of the following stresses the use of only specialists to head departments?

A.

Committee organisation structure

B.

Line organisation structure

C.

line and staff organisation structure

D.

Functional organisation structure

E.

Centralization

Correct answer is D

No explanation has been provided for this answer.

883.

An insurance company shares its accepted risk with others in the form of

A.

reinsurance

B.

subrogation

C.

mutual insurance

D.

fidelity guarantee insurance

E.

contribution

Correct answer is A

No explanation has been provided for this answer.

884.

Which of the following is not a credit instrument used in business transactions?

A.

Luncheon voucher

B.

Bill of exchange

C.

Promissory note

D.

Bank note

E.

Fuel voucher

Correct answer is E

No explanation has been provided for this answer.

885.

Containers are suitable for transporting goods by

A.

sea only

B.

road only

C.

sea and rail only

D.

road and sea only

E.

road, sea and rail

Correct answer is E

No explanation has been provided for this answer.