2000 WAEC Commerce past questions and answers

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1
Which of the following can be defined as trade and aids to trade?

A Advertising

B Commerce

C Wholesaling

D Retailing



Correct Option: B


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2
Which of the following is not a source of finance to a sole proprietor?

A Trade Credit

B Overdrafts

C Debentures

D Leasing of equipment



Correct Option: D


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3
The coming together of two or more firms at different stages of production is?

A horizontal merger

B vertical merger

C amalgamation

D cartel



Correct Option: C


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4
The total value of fixed and current assets is?

A working capital

B capital employed

C fixed capital

D capital owned



Correct Option: B


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5
The total value of fixed and current assets is?

A working capital

B capital employed

C fixed capital

D capital owned



Correct Option: B


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6
Which of the following is true about cumulative preference shares?

A Unpaid dividends are carried forward

B Shareholders can secure capital refund on demand

C Shareholders are entitled to further share of profit

D Dividends are paid into a special account



Correct Option: A


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7
Which of the following is true about cumulative preference shares?

A Unpaid dividends are carried forward

B Shareholders can secure capital refund on demand

C Shareholders are entitled to further share of profit

D Dividends are paid into a special account



Correct Option: A


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8
A debenture is mortgaged when it is?

A not secured on the the assets of a company

B Secured on the assets of a company

C irredeemable

D redeemable



Correct Option: C


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9
A retail outlet which sells a fairly narrow range of goods with a number of branches in different towns is a?

A supermarket

B mail-order shop

C mobile shop

D multiple shop



Correct Option: A


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10
A consignment note is used when?

A goods are wrapped and labelled for easy identification

B goods are dispatched to agent through transporters

C damaged goods are being returned

D there is over-invoicing



Correct Option: B


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