WAEC Commerce Past Questions & Answers - Page 196

976.

A voluntary body formed by people in the same line of business is known as?

A.

trade union

B.

trade association

C.

cartel

D.

employers' association

Correct answer is B

No explanation has been provided for this answer.

977.

The process by which government takes over the ownership and control of an existing private business is?

A.

industrialization

B.

privatization

C.

nationalization

D.

commercialization

Correct answer is C

No explanation has been provided for this answer.

978.

The duty of an agent of necessary to a principle is based on?

A.

trust

B.

ability

C.

negotiation

D.

mutual agreement

Correct answer is A

No explanation has been provided for this answer.

979.

In a contract, offer is described as a counter offer if?

A.

a new clause is introduced

B.

it is not understood

C.

it is not addressed to a particular person

D.

it leaves no room for renegotiation

Correct answer is A

No explanation has been provided for this answer.

980.

Which of the following is not a method of discharging a contract?

A.

Performance

B.

Breach

C.

Consideration

D.

Frustration

Correct answer is C

No explanation has been provided for this answer.