WAEC Commerce Past Questions & Answers - Page 218

1,086.

A price quotation that covers the cost of goods and all other expenses incurred in delivering the goods to the buyer is called?

A.

CIF

B.

FAS

C.

Franco

D.

Loco

Correct answer is C

No explanation has been provided for this answer.

1,087.

A document from a seller which corrects an under-charge on a buyer's account is known as?

A.

proforma invoice

B.

credit note

C.

debit note

D.

statement of account

Correct answer is C

No explanation has been provided for this answer.

1,088.

Which of the following abbreviations indicates that the seller reverse the right to correct errors on the invoice

A.

E & O.E

B.

C.I.F

C.

C.O.D

D.

C.W.O

Correct answer is A

No explanation has been provided for this answer.

1,089.

All human efforts geared towards the production of goods and services is?

A.

entrepreneurship

B.

labour

C.

capital

D.

occupation

Correct answer is B

No explanation has been provided for this answer.

1,090.

Which of the following is a creditor legally bound to accept for settlement of a debt?

A.

Bank draft

B.

Bank note

C.

Money order

D.

Cheque

Correct answer is A

No explanation has been provided for this answer.