WAEC - Commerce (1995)
1
When a company sells shares to existing shareholders at preferential rate, that is called?
2
Which of the following must be include in the Articles of Association?
Answer(A)
Voting rights of the shareholders
3
Which of the following enables production to take place ahead of demand?
4
Called-up capital is the amount?
5
Which of the following is true about cumulative preference shares?
Answer(A)
Any unpaid dividend is carried forward
6
A public limited company has the rights and duties of an individual because it?
7
The total indebtedness of a business is the same as its
8
All activities involved in the distribution and exchange of goods and services are referred to as?
9
Land as a factor of production comprises?
Answer(A)
all resources provided by nature
10
Goods are usually classified into?
Answer(D)
producer and consumer goods
11
Del-credere commission is an?
Answer(B)
extra allowance paid for guaranteeing recovery of debts
12
Which of the following is classified as invisible item in_the balance of payments?
13
Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller’s warehouse up to his own warehouse?
14
A trade in which many countries exchange goods and services is called?
15
Which of the following is used to ascertain the correct value of imports for purposes of assessing customs duty’
16
The best method of making payment to an overseas supplier is by/
17
Are fund usually granted for goods imported and later re-exported is called?
18
Which of the following is a declaration by the captain of a ship as to the cargo on board?
19
When the balance of trade is unfavourable which of the following conditions prevails?
20
When a seller decides to sell his goods at a specific price for a specific period, he is making?
21
A retailer who receives a trade discount of 33‘/3% and a cash discount of 10% on goods worth N360 would pay?
22
Which of the following documents is used when goods are sent on approval?
23
Terms of trade refers to?
Answer(C)
the relationship between export and import prices
24
Another name for shares, stocks and debentures traded in the stock exchange is?
25
Which of the following belongs to the capital market?
26
Which of the following is not true of insurance?
Answer(B)
A Possibility of making profit out of an event
27
Which of the following belongs to the capital market?
28
Which of the following is not true of insurance?
Answer(B)
Possibility of making a profit out of an event
29
Which of the following policies qualifies the holder to income to income tax relief?
30
Which of the following is not a feature of good banking security? The
Answer(E)
value of the asset must less than the amount loaned
31
Selling a bill in less than the face of the value for immediate cash before the due date is to?
32
Which of the following is a non- indemnity insurance?
33
Which of the following regulates and controls the activities of the Nigerian Stock Exchange?
Answer(C)
Securities and Exchange Commission (SEC)
34
Which of the following regulates and controls the activities of the Nigerian Stock Exchange?
Answer(C)
Securities and Exchange Commission (SEC)
35
A cheque drawn by a bank on itself is a?
36
A cheque drawn by a bank on itself is a?
37
Which of the following is formed primarily to promote savings and loans among members?
Answer(E)
Co-operative thrift and credit society
38
Mr Ojo borrowed N54,000 from a Commercial bank and deposited his life assurance certificate with the bank. The certificate deposited serves as?
39
When an insurance policy is cleared void because of a false declaration the principle involved is?
Answer(D)
utmost good and favour ''?
40
The nominal value of share of a public limited limited company is 50k and the market value is 65k. The company's share is selling?
