Question 1
A shoe repairer is engaged in a
Objective
WAEC Commerce 1999 Past Questions
Practice each question, then open it to see the full details.
Question 1
State and explain any five classes of shares a public limited company can issue.
Theory
Question 2
The goods that are used for the production of other goods are known as
Objective
Question 2
(a)Explain five reasons why consumers need protection.
(b) State five government legislation aimed at consumer protection.
Theory
Question 3
Which of the following brings about specialization?
Objective
Question 3
(a)Describe to Kola a new recruit in your office, the steps he may take to open a current account.
(b) Outline four functions of the Central Bank.
Theory
Question 4
Which of the following refers to all the resources used in creating utilities?
Objective
Question 4
(a)With the aid of a diagram, illustrate six branches of trade and show six types of retail outlets.
(b) State eight features of hawking.
Theory
Question 5
Which of the following enables people to consume a variety of goods and services?
Objective
Question 5
(a)Explain branding and give two suitable examples.
(b) In which five ways does branding affect the consumer?
Theory
Question 6
A business unit in which profits are shared on the basis of members' patronage is known as
Objective
Question 6
(a)Explain five reasons why a manufacturer may engage in personal selling.
(b) Explain five characteristics of Sole Proprietorship.
Theory
Question 7
A public limited company wishing to obtain more capital may have to
Objective
Question 7
(a)Explain five reasons why communication is important in commerce.
(b) Explain five functions of Advertising.
Theory
Question 8
The safe keeping of goods from the point of production to the time they are needed is`
Objective
Question 8
| N | |
| fixtures | 1,000.00 |
| stock 31st december | 8,000.00 |
| Debtors | 5,000.00 |
| Creditors | 3,000.00 |
| Cash in hand | 7,000.00 |
| Bank overdraft | 1,200.00 |
| Typewriter | 4,500.00 |
| furniture | 2,500.00 |
| capital | 8,000.00 |
Calculate:
(a) Capital owned
(b) Working capital
(c) Current liabilities
(d) Fixed capital
(e) Capital employed.
Theory
Question 9
The document which regulates the operations of a partnership is known as
Objective
Question 9
Outline two functions of each of the following.
(a) Trade Association
(b) Consumer Association
(c) Customs Authority
(d) Manufacturer's Association
(e) Chamber of Commerce.
Theory
Question 10
A company is said to be insolvent when
Objective
Question 10
(a)What is a contract?
(b) Explain six reasons for which a contract can be terminated.
Theory
Question 11
Which of the following is formed in order to enforce the rights and powers of buyers in relation to sellers?
Objective
Question 12
A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the company's registered capital?
What is the company's registered capital?
Objective
Question 13
A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the paid up capital?
What is the paid up capital?
Objective
Question 14
A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the called-up capital
What is the called-up capital
Objective
Question 15
Which of the following documents is used to advertise shares to the public?
Objective
Question 16
A major advantage of the private company over a partnership is that the private company
Objective
Question 17
Which of the following is a contract of carriage and a document of title?
Objective
Question 18
Which of the following is not a feature of a Department Store?
Objective
Question 19
A major cost component of running a mail order firm is the
Objective
Question 20
A bill of exchange becomes negotiable when it is
Objective
Question 21
What is the purpose of a debit note? To
Objective
Question 22
Status enquiry is necessary when
Objective
Question 23
Trade discount is given to the buyer for
Objective
Question 24
Government can borrow money from the public through
Objective
Question 25
Insurance is necessary because of the need to
Objective
Question 26
Notes and coins are legal tender because they are
Objective
Question 27
If a company is described as "listed" it means
Objective
Question 28
The counterfoil of a cheque book enables the drawer to
Objective
Question 29
Which of the following qualities of money is generally undermined by inflation?
Objective
Question 30
One advantage of communication by telephone is
Objective
Question 31
Which of the following is the fastest means of sending a document from one place to another?
Objective
Question 32
Which of the following is a disadvantage of canal transport? it is
Objective
Question 33
A manufacturer of machinery who wants to reduce cost of promotion can use
Objective
Question 34
Direct selling by a producer to a consumer is possible when the
Objective
Question 35
The task of grouping consumers according to their buying habits is known as market
Objective
Question 36
Which of the following is not an economic grouping?
Objective
Question 37
Business losses in nationalized industries are borne by the
Objective
Question 38
Which of the following can be sold through a vending machine?
Objective
Question 39
Which of the following is the most suitable channel of distribution for technical goods?
Objective
Question 40
Which of the following implies that the price quoted includes the cost of insurance and carriage?
Objective