Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
Which of the following is not included in the Memorandum of Association?
AWinding up procedure
BObjectives of the company
CAddress of the registered office
DAmount of capital
EConditions for amendment of the memorandum
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Question 1802
waec1996
A partner who does not play an active role in a business but contributes capital is a
Asecret partner
Bdormant partner
Cnominal partner
Dlimited partner
Egeneral partner
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Question 1803
waec1996
Which of the following is an advantage of personal selling?
AImmediate feedback
BLow cost
CSelf service
DSpeedy market coverage
ESelling to many people at a time
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Question 1804
waec1996
Which of the following is not an element of a contract?
AConsideration
BProbability
CLegality
DCapacity
EConsensus
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Question 1805
waec1996
Which of the following is suitable for transporting fish a long distance?
ATramp
BCargo liner
CTanker
DBarge
ERefrigerated ship
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Question 1806
waec1996
Which of the following is not true of franking machines ?
AHired by companies and licensed by NIPOST
BPrint postage imprssion on mails
CCan print company's logo on mails
DAdvance payment must be made to NIPOST
EPostage stamp is used
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Question 1807
waec1996
The value of a product expressed in monetary terms is known as
Autility
Bprice
CPremium
Dcommission
Einterest
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Question 1808
waec1996
A retail co-operative society aims at
Aencouraging members to save money
Bbuying seeds and fertilizers
CManufacturing goods as cheaply
Dlending money to members at low rate of interest
Ecutting off the profits of middlemen
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Question 1809
waec1996
Which of the following is not true of a private limited company?
AThe minimum number of shareholders is two
Bits shares are freely transferable
CThere is a limit to the number of shareholders
Dit is following separate legal entity
Eit is a registered business
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Question 1810
waec1996
Which of the following is not a reason for dishonoring a cheque?
AInsufficient funds
BDifferent amounts in words and figures
CUninitiated alteration
DWrong signature
ESpecial crossing
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Question 1811
waec1996
Which of the following may be used to restrict imports?
i. Bill of lading ii. Specific Licenses iii.Foreign exchange rationing iv. Letters of credit v.Customs duties and tariffs
Ai, ii and v only
Bii, iii and v only
Ciii, iv and v only
Di, ii and iv only
Eii, iii and iv only
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Question 1812
waec1996
Which of the following may not be considered when choosing an appropriate channel of distribution for a new product?
ANature of the product
BIdentification of potential customers
COperating costs
DExisting local channel of distribution
EProvision of credit facilities to customers
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Question 1813
waec1996
When goods are sent through an independent carrier, the document used by the sender is
Aa delivery note
Ban advice note
Can invoice
Da consignment note
Ea reciept
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Question 1814
waec1996
Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the
Aofferer
Bofferee
Cbuyer
Dguarantor
Eauctioner
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Question 1815
waec1996
A firm that accepts a portion of the risk involved in an insurance contract is
Aa broker
Ban actuary
Ca speculator
Dan underwriter
Ean assessor
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Question 1816
waec1996
An association of employees in an organization is called a
Atrade union
Btrade association
Cconsumer association
Dcredit union
Eco-operative society
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Question 1817
waec1996
A nation's earnings from tourism are classified as
Avisible exports
Binvisible exports
Cvisible imports
Dinvisible imports
Eentrepot trade items
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Question 1818
waec1996
Contracts for the carriage of goods by sea are generally called
Acharter by demise
Bcharter parties
Cvoyage charters
Dtime charter
Emarine policy
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Question 1819
waec1996
Another name for sea taxi is
Atramp
Bliner
Cspecial frieghter
Dvoyage charter
Eflying boat
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Question 1820
waec1996
Which of the following is primarily established to promote the growth of industry in Nigeria?
