WAEC Commerce Past Questions & Answers - Page 287

1,431.

Restoring the insured to his former position by the insurer in the event of his suffering the specified loss is called?

A.

Subrogation

B.

Compensation

C.

Indemnity

D.

Contribution

E.

Surrender value

Correct answer is C

No explanation has been provided for this answer.

1,432.

The two main categories of marine losses are?Total loss and particular average loss

A.

Total loss and partial loss

B.

Total loss and particular average loss

C.

Total loss and constructive total loss

D.

Total loss and actual total loss

E.

Partial loss and constructive total loss

Correct answer is A

No explanation has been provided for this answer.

1,433.

A service provided by NITEL through which one can dial any number one wants whether it is a local, trunk or overseas is called the?

A.

Internal Communication System

B.

Standard Dialling System

C.

Subscribers Dialling System

D.

International Telecommunications

E.

Coded Dialling Order

Correct answer is B

No explanation has been provided for this answer.

1,434.

Which of the following is not provided by NIPOST?

A.

Private Mail Bag

B.

Record Delivery

C.

Business Reply Service

D.

Telegram

E.

Poste Restante

Correct answer is D

No explanation has been provided for this answer.

1,435.

The total assets acquired for permanent use in a business concern is called?

A.

Current assets

B.

Fixed assets

C.

Called-up capital

D.

Working capital

E.

Authorized capital

Correct answer is B

No explanation has been provided for this answer.