WAEC Commerce Past Questions & Answers - Page 252

1,256.

The different between an overdraft and loan is that an overdraft?

A.

does not yield interest

B.

is giving to savings account holders only

C.

yields interest on the customer before it is granted?

D.

yields interest only on the sum drawn

E.

requires no application by the customer before it is granted

Correct answer is D

No explanation has been provided for this answer.

1,257.

When an insured person admits that he has indemnified, he means that?

A.

the insurance company has accepted his claim

B.

the damaged properties has been recovered

C.

he has paid his premium fully

D.

the insurance company has restored him to his formal positionhe has recovered benefits lost through acting in bad faith

E.

he has recovered benefits lost through acting in bad faith

Correct answer is D

No explanation has been provided for this answer.

1,258.

A person who sells goods belonging to another person in his own name and receives commission is a?

A.

wholesaler

B.

retailer

C.

sole trader

D.

factor

E.

merchant

Correct answer is D

No explanation has been provided for this answer.

1,259.

The concept that consumers decided what goods and services shall be known as consumer?

A.

protection

B.

surplus

C.

sovernignty

D.

behaviour

E.

co-operative

Correct answer is C

No explanation has been provided for this answer.

1,260.

Which of the following is not an elements of the marketing mix?

A.

Product

B.

Pricing

C.

Promotion

D.

Purchases

E.

Place

Correct answer is D

No explanation has been provided for this answer.