WAEC Commerce 2001 Past Questions

(a) With the aid of a diagram, illustrate the scope of commerce.

(b) Explain four commercial activities that facilitate buying and selling.
 

(a) Differentiate between Hire Purchase and Credit Sale

 (b) Give four advantages of hire purchase to each of following:
(i) a seller
(ii) a buyer 
 

Write short notes on the following :

(a) Persuasive advertising

(b) Informative advertising

(c) Competitive advertising

(d) Mass advertising

(e) Direct advertising
 

(a) State six distinguishing features of a mail order business

(b) Give four disadvantages of a mail order business 
 

(a) Explain six reasons for government participation in business enterprises

(b) State four demerits of governme-participation in business enterprises 
 

(a) What is a bill of lading?

(b) State six contents of a bill of lading.

(c) Distinguish between a clean bill of lading a-a foul bill of lading 
 

(a) State any four rights of an unpaid seller of goods

(b) Give six duties of an agent to the principal 
 

Fred Asamah had the following state of affairs as at 31st December, 1999 
Vehicles               82,000
Furniture              15,000
Stocks                  38,000
Debtors                25,000
Creditors              30,000 
Cash in hand       10,000
Bank overdraft     5,000
Capital                 135,000

(a) Calculate: (i) the current assets of the business (ii)current liabilities (iii) its working capital 

(b)What is a current asset? (c) State one significance 

(a) Explain uninsurable risks and list two types of such risks

(b) Write short notes on the following: (i) Hull surance (ii) Fidelity guarantee insurance (iii) Underwriter (iv) Insurance Premium
 

(a) State four factors that would determine the choice of transport by a businessman.

(b) State four advantages of :ad transport over rail transport