WAEC Commerce 2008 Past Questions

Compare a partnership and a public limited company as business unit under the following headings;

(a) formation
(b) ownership
(c) raising of capital
(d) liability
(e) transfer of shares

Write short notes on the following types of retail outlets:
(a) supermarket
(b) mobile shops
(c) department stores
(d) chain stores
(e) hawking.
 

Explain the following insurance terms:

(a) proximate cause
(b) contribution
(c) utmost good faith
(d) re-insurance
(e) contract of non-indemnity (compensation). 

List and explain four documents involved in the formation of a public limited company. 
 

(a) Explain the following:
(i) counter trade
(ii) entrepot trade
(iii) import trade
(iv) invisible trade

(b) State four barriers to international trade.

(a) What is transportation?

(b) Explain dead freight.

(c) List and explain five factors that will determine a seller's mode of transportation.
 

(a) What is hire purchase?

(b) Give two advantages and two disadvantages each of hire purchase to
(i) the buyer
(ii) the seller.

(a) Explain four functions of the stock exchange.

(b) Explain four ways by which the Central Bank regulates the activities of commercial banks.

(a) State five factors that can affect the rate of turnover of a company.

(b) What is working capital?

(c) Explain four importance of working capital.

(a) Write the following abbreviations in full:
(i) C.O.D; (ii) C.I.F. (iii) F.O.B; (iv) E and O.E. 

(b) The sale of a consumer good costing #100,000 attracts a cash discount of 5% and a quantity discount of 5%. You are required to calculate
(1) quantity discount value (ii) cash discount value  (iii) net amount of money payable by the customer.