WAEC Commerce 2002 Past Questions

(a) State four characteristics of a co-operative society.

(b) Mention and explain three types of co-operative society
 

(a) State five functions performed by the wholesaler in the channel of distribution.

(b) Explain five factors that encourage the elimination of middlemen from the channel of distribution.
 

(a) Explain each of the following insurance terms:
(i) consequential loss
(ii) cover note

(b) State four advantages of re-Insurance to a businessman 
 

(a) What is a Chamber of Commerce?

(b) State six functions of a Chamber of Commerce.

(c) State three functions -pc manufacturing association.
 

(a) Give four reasons why retail shops adopt self service.

(b) Explain six facilities that a retail shop should have to encourage self service. 
 

Explain five measures taken by a country to:

(a) restrict imports

(b) promote exports
 

(a) What is an advertising medium?

(b) Mention eight advertising media.

(c) Give five factors to be considered before choosing an advertising medium.
 

(a) Explain the following: (i) turnover (ii) rate of turnover (iii) net profit

(b) The following information is taken from the balance sheet of XYZ Ltd:
                             N
opening stock    1,000
purchases          10,000
sales                   15,000
wages                 1,000
closing stock       5,000
You are required to calculate:
(i) the cost of goods sold
(ii) the rate of turnover
(iii) net profit
 

 Give two uses of each of the following documents:
(a) price list
(b) delivery note
(c) consignment note
(d) advice note
(e) proforma invoice 
 

(a) Explain four ways by which a registered mail differs from ordinary mail.

(b) Explain two advantages and two disadvantages of transporting goods by rail