1999 WAEC Commerce past questions and answers

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1
A shoe repairer is engaged in a

A service occupation

B manufacturing

C extractive occupation

D commercial occupation



Correct Option: A


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2
The goods that are used for the production of other goods are known as

A commercial goods

B consumer goods

C capital goods

D non-durable



Correct Option: C


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3
Which of the following brings about specialization?

A Recruitment of staff

B Division of labour

C Business resource

D Employer of labour



Correct Option: B


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4
Which of the following refers to all the resources used in creating utilities?

A Fixed capital

B Factors of production

C Enterpreneurship

D Labour



Correct Option: B


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5
Which of the following enables people to consume a variety of goods and services?

A Labour

B Capital

C Land

D Exchange



Correct Option: D


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6
A business unit in which profits are shared on the basis of members' patronage is known as

A partnership

B public limited company

C Co-operative society

D private limited company



Correct Option: C


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7
A public limited company wishing to obtain more capital may have to

A apply for subvention

B buy treasury bills

C buy second-hand securities

D issue debentures



Correct Option: D


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8
The safe keeping of goods from the point of production to the time they are needed is`

A standardizing

B warehousing

C hoarding

D stock controlling



Correct Option: B


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9
The document which regulates the operations of a partnership is known as

A Deed

B Articles of Association

C Prospectus

D Certificate of trading



Correct Option: A


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10
A company is said to be insolvent when

A it makes a loss in any one year

B its total liabilities exceed total assets

C the ordinary shareholders recieve no dividend from the company

D the preference shareholders could not be paid by the company



Correct Option: B


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