2002 WAEC Commerce past questions and answers

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1
The distribution and exchange of goods and services for the satisfaction of wants in the concern of?

A production

B utility

C commerce

D industry



Correct Option: C


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2
Transforming raw materials into finished products is an example of?

A primary production

B secondary production

C tertiary production

D direct service



Correct Option: B


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3
Transforming raw materials into finished products is an example of?

A primary production

B secondary production

C tertiary production

D direct service



Correct Option: B


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4
Which of the following is concerned with actual production of goods and services?

A Commerce

B Trade

C Industry

D Service



Correct Option: C


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5
Which of the following has no limit to its membership?

A Ordinary partnership

B Private Limited Company

C Limited partnership

D Cooperative society



Correct Option: D


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6
Which of the following does not lead to the dissolution of a partnership?

A Absence of a deed of partnership

B Withdrawal of a partner

C Incapacity of any of the partners

D Completion of contractual term



Correct Option: A


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7
An offer by one company to buy up all or greater part of another company's share is known as?

A merger

B take-over bid

C absorption

D liquidation



Correct Option: B


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8
The refund of a duty which had been paid on importation that are later re-exported is known as?

A export tax

B surtax

C customs drawback

D liquidation



Correct Option: C


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9
Which of the following is an internal source of capital to a business concern?

A Trade credit

B Debenture

C overdraft

D Retain profit



Correct Option: D


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10
Which of the following is an internal source of capital to a business concern?

A Trade credit

B Debenture

C overdraft

D Retain profit



Correct Option: D


We're working to add a detailed solution for this question





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