WAEC Commerce Past Questions & Answers - Page 305

1,521.

which of the following documents may be used when an importer requires a longer period of credit before settlement?

A.

letter of credit

B.

documentry credit

C.

bill of lading

D.

sight draft

E.

bill of exchange

Correct answer is E

No explanation has been provided for this answer.

1,522.

An overdraft is usually granted a?

A.

savings account holder

B.

deposit account holder

C.

current account holder

D.

loan account holder

E.

fixed deposit account holder

Correct answer is C

No explanation has been provided for this answer.

1,523.

Which of the following is a function of money?

A.

Provision of double coincidence of wants

B.

Durability

C.

Standard for deferred payment

D.

Portability

E.

Divisibility

Correct answer is C

No explanation has been provided for this answer.

1,524.

An author's exclusive right to published and unpublished works is known as?

A.

patent right

B.

fundaamental human right

C.

copyright

D.

authorship

E.

constitutional right

Correct answer is C

No explanation has been provided for this answer.

1,525.

With the exception of life assurance and personal accident insurance, contracts of insurance are contracts of?

A.

premium

B.

indemnity

C.

proximate cause

D.

utmost good faith

E.

general average cause

Correct answer is B

No explanation has been provided for this answer.