1995 WAEC Commerce past questions and answers

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1
When a company sells shares to existing shareholders at preferential rate, that is called?

A Rights issue

B Bonus issue

C Private placing

D Sale by auction



Correct Option: A


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2
Which of the following must be include in the Articles of Association?

A Voting rights of the shareholders

B The objects of the business

C The address of the registered office

D Statement that liability is limited



Correct Option: A


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3
Which of the following enables production to take place ahead of demand?

A Transporting

B Advertising

C Importing

D warehousing



Correct Option: D


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4
Called-up capital is the amount?

A paid on allotment

B paid ontirstcall

C paid on appilication

D demanded on shares issued



Correct Option: A


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5
Which of the following is true about cumulative preference shares?

A Any unpaid dividend is carried forward

B The shareholders can obtain a capital refund

C They are entitled to further share in profit

D Any unpaid dividend is forfeited



Correct Option: A


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6
A public limited company has the rights and duties of an individual because it?

A has a board of directors

B has a trading certificate

C has corporate status'

D has a memorandum of association



Correct Option: C


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7
The total indebtedness of a business is the same as its

A liabilities

B liquid capital

C solvency

D capital employed



Correct Option: A


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8
All activities involved in the distribution and exchange of goods and services are referred to as?

A Trade

B Market survey

C Advertising

D Commerce



Correct Option: D


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9
Land as a factor of production comprises?

A all resources provided by nature

B the earth surface only

C land surface and vegetation

D efforts to exploit the earth



Correct Option: A


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10
Goods are usually classified into?

A saleable and nonisaleable good

B inferior and superior goods

C luxurious and essential goods

D producer and consumer goods



Correct Option: D


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