1994 WAEC Commerce past questions and answers

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1
Capital owned is the same as?

A authorised capital

B issued capital

C net worth of a business

D fixed assets of a business



Correct Option: C


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2
A business that has no upper limit to the number of owners is?

A partnership

B private company

C public corporation

D finance company



Correct Option: E


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3
An agreement between two parties which can be enforced is called?

A an agency

B a contract

C a consideration

D an offer



Correct Option: B


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4
Which of the following is not used by the Central Bank to restrict lending by commercial banks?

A Management of national debt

B Reserve Requirement

C Open Market Operations

D Special Deposit



Correct Option: A


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5
Which of the following relies on the government for its initial capital?

A Co-operative Society

B Private Limited Company

C Public Corporation

D Public Limited Company



Correct Option: C


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6
A cheque does not contain?

A cheque number

B cashier's signature

C payee's name

D drawer's name



Correct Option: B


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7
The most acceptance and convenient means of payment in foreign trade is?

A letter of credit

B bank-draft

C telegraphic money order

D promissory note



Correct Option: A


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8
An association of firms, producing similar commodities, formed in order to keep up prices by restricting output is called?

A a chamber of commerce

B a customs union

C an amalgamation

D a cartel



Correct Option: D


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9
An establishment that specializes in taking care of risks is called?

A a hire-purchase company

B an accepting house

C an insurance company

D a finance company



Correct Option: C


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10
Which of the following is an example of a commercial occupation?

A Wrestling

B Welding

C Shipping

D Brick laying



Correct Option: C


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