1998 WAEC Commerce past questions and answers

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1
Commerce is concerned mainly with the?

A production of goods and services

B distribution of goods and services

C consumption of goods and services

D storing of goods



Correct Option: B


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2
The two main branches of trade are?

A commerce and aids to trade

B home and foreign trade

C foreign and entrepot trade

D wholesale and retail trade



Correct Option: B


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3
Commerce is concerned mainly with the

A production of goods and services

B distribution of goods and services

C consumption of goods and services

D storing of goods



Correct Option: B


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4
The two main branches of trade are

A commerce and aids to trade

B home and foreign trade

C foreign and entreport trade

D whole sale and retail trade



Correct Option: B


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5
Who among the following is not engaged in a commercial occupation

A a stock brocker

B an engineer

C a banker

D a common carrier



Correct Option: B


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6
On which of the following grounds may a company be compulsorily wound up?

A the company is making abnormal profits

B it did not declare dividends every year

C its products compete with that of a government company

D it fails to commence business within a year of its incorporation



Correct Option: D


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7
The management and control of co-operative societies are in the hands of the

A contributors

B Board of Directors

C Committee

D Financial controller



Correct Option: A


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8
Key industries and those requiring huge capital are usually established as

A public corporations

B public limited companies

C private limited companies

D holding companies



Correct Option: A


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9
Movement of commercial vehicles in Nigeria is controlled by the

A Nigerian Ports Authority

B National Association of Road Transport Workers

C Federal Ministry of Transport

D Nigerian Customs Authority



Correct Option: B


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10
The reward of entrepreneurship as a factor of production is

A interest

B commission

C profit

D salary



Correct Option: C


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