WAEC Commerce 2012 Past Questions

 (a) The chart above gives the main divisions of Commerce, complete the chart by filling in the blank spaces labeled (i) to (viii).

 (b) Explain the following, give one example of each:

(i) Primary production (ii) Secondary production (iii) Tertiary production. 

 (a) Explain the following:

(i) limited liability (ii) separate legal entity  (iii) ceritficate of incorporation (iv) participating preference shares (v) ordinary shares. 

(b) State five advantages of public corporation. 
 

(a) What is channel of distribution?

(b) With the aid of diagrams, show four examples of channel of distribution.

(c) Explain five advantages of home trade over foreign trade. 

(a) What is credit?

(b) List and explain six principles of insurance. 
 

(a) Explain five factors affecting the choice of transport of frozen products.

(b) State five disadvantages of air transport. 

(a) Define the term market segmentation.

(b) List six factors that influence market segmentation.

 (c) State five advantages of advertising.
 

(a) What is a contract? 

(b) List five elements of a valid contract.

(c) Explain four ways by which a contract may be discharged. 
 

Explain the following documents used in international trade:

(a) Indent;

(b) Bill of lading

(c) Consular invoice

(d) Certjficate of origin

(e) Bill of exchange. 
 

(a) Differentiate between Nationalization and Indigenization. 

(b) State six reasons why a country would indigenize some industries.
 

Ade Company Limited has an authorized capital of 80,000 shares of N20 each, out of which 30,000 shares have been fully subscribed by the public and allotted as at 31st March 2006. Other assets and liabilities were:

Creditors     35,000
Motor van    90,000
Buildings      65,000
Stock            60,000
Debtors        15,000
Cash              5,000 
You are required to calculate:
(a) Issued capital 
(b) Unissued capital
(c) Total Assets
(d) Working capital.