WAEC Commerce Past Questions & Answers - Page 201

1,001.

Which of the following is sent by a customer who wishes to know the price, quality and terms of sale of a product?

A.

Quotation

B.

Letter of Enquiry

C.

Proforma invoice

D.

Advice note

Correct answer is B

No explanation has been provided for this answer.

1,002.

An agreement by which a buyer pays instalmentally but does until final settlement is made is?

A.

hire purchase

B.

deferred payment

C.

conditional sale

D.

features trading

Correct answer is A

No explanation has been provided for this answer.

1,003.

Department store usually?

A.

offers a wide variety goods

B.

specialize in selling only household goods

C.

offer a few line of goods

D.

sell on cash on delivery basis

Correct answer is A

No explanation has been provided for this answer.

1,004.

In international trade the direct exchange of goods for goods is?

A.

bilateral trade

B.

counter trade

C.

multi lateral trade

D.

entrepot trade

Correct answer is B

No explanation has been provided for this answer.

1,005.

Which of the following requires acceptance before it can be valid?

A.

Promissory note

B.

Bill of exchange

C.

Letter of credit

D.

Cheque

Correct answer is B

No explanation has been provided for this answer.