WAEC Commerce Past Questions & Answers - Page 82

406.

Which of the following was not used as a medium of exchange by the early Europeans that came to West Africa?

A.

Pounds and shillings

B.

Copper manillas

C.

Iron bars

D.

Cowries

Correct answer is C

No explanation has been provided for this answer.

407.

A practice where producers of the same product come together to advertise is known as

A.

mass advertising

B.

institutional advertising

C.

direct advertising

D.

persuasive advertising

Correct answer is A

No explanation has been provided for this answer.

408.

Which of the following is not a feature of a sole trader

A.

quick decision making

B.

Guaranteed profits

C.

Unlimited liability

D.

Bearing losses alone

Correct answer is B

No explanation has been provided for this answer.

409.

The difference between the cost of goods sold and the sales value is known as

A.

net profit

B.

net loss

C.

gross profit or loss

D.

surplus

Correct answer is C

No explanation has been provided for this answer.

410.

Which of the following arranges for the conveyance of goods abroad

A.

Ports Authority

B.

Customs and Excise Authority

C.

Airports Authority

D.

Export Promotion Council

Correct answer is D

No explanation has been provided for this answer.