2016 Waec Gce Commere Answers

1-10 BBDADAAACC
11-20 CADCADDCBA
21~30 CCBDABBCDB
31-40 CBBABAABAB
41-50 CBCDDCADBC Some contents ...

(1a)
(i) No payment of rent
(ii) It is Door to Door service
(iii) Small capital is involve to set up
(iv) Consumable goods are sold majorly
(1b)
-Land is a free gift of nature and also a place
where every other factors of productions take
place.
-labour is both mental and physical input on the
factors of production
-capital is the amount invested in the factor of
production
-enterpreneur is the person responsible to
supervise all other factors of production
2ai) Features of cooperative society
1. there is perpetual existence or continuity
B. It is registered as a limited liability.members
liability is limited to the share held
C. It is democratic in nature
D.profit is shared based on patronage.
2aii)
Mail order business
a. It is shopping by post
B.it is peculiar with cash on delivery transaction
and cash with order terms of payment
C. Goods are delivered at the buyer's
destination
D. Packages are usually to customers taste.
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2bi) by expiration of agreement:-
Where the partnership is entered into for a
fixed period of time,it is assumed dissolved at
the expiration of the fixed date
ii. Bankruptcy of a partner:-
Partnership will be desolved when one of the
partners is bankrupt
iii. Insolvency of the business:- when the
business can not meet its obligations
Iv. Death of partner:- the death of a partner will
bring to an end
V. Insanity of a partnership:- if one of the
partners become insane,the remaining partners
can apply to the court for dissolution.
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5i) medium of exchange: money is generally
acceptable by people in exchange of goods and
services.
(ii) transfer of value: since money is generally
acceptable means of payment and acts as a
store of value,it keeps on transferring value
from person to person and place to place
(iii) measure of value and unit of account:-
money serve as a unit of which the value of
goods is measured and expressed.its helps to
express the price of current and future
transactions.
(Iv) store of value:- money as a store of value is
meant to meet unforeseen emergency , with the
use of money, current spending as well as
savings for the future is permitted.

(5b)
-It is saver to carry cheque than cash
-It is easy for drawer to stop payment so as to prevent fraud
-Cheque can serve as a receipt and a proof of payment
-It is more convenient to carry chque about than cash
-cheque help to economise in the use of currency notes and
coins
-Cheque counterfoil slip can be used by drawer for proper
payment and receipt

(7a)
Market segmentation is a process of the total
heterogenous market for a product into several
sub marked or segments each of which tends to
be homogeneous in all important aspects.

7b)
1) Marketing Helps in Transfer, Exchange and
Movement of Goods:
(2) Marketing Is Helpful In Raising And
Maintaining The Standard Of Living Of The
Community:
(3) Marketing Creates Employment:
(4) Marketing as a Source of Income and
Revenue:
(5) Marketing Acts as a Basis for Making
Decisions:
(6) Marketing Acts as a Source of New Ideas:

4a)
a Document prepared by a consignor and countersigned by
the carrier as a proof of receipt ofconsignmentfor delivery at
the destination. Used as an alternative to bill of lading
(specially in inland transport), it is generally neither a
contract of carriage nor a negotiable ..
4b
Delivery note – What is a delivery note?Definition: A
document accompanying a shipment of goods that lists the
description, grade, and quantity of the goods delivered.
4c
Bill of lading..a detailed list of a ship's cargo in the form of a
receipt given by the master of the ship to the person
consigning the goods.
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