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.
Details of a new share for which the public is being invited to subscribe are contained in the?
AMemorandum of Association
BCertificate of Trading
CCertificate of Incorporation
DProspectus
EBalance sheet
View Explanation & Discuss
Question 22
waec1991
Which of the following is not a necessary document in incorporating a company?
AMemorandum of Association
BArticles of Association
CA statement of nominal capital
DA certificate of Trading
EA statement of minimum subscription
View Explanation & Discuss
Question 23
waec1991
Which of the following are elements of the economic environment of business?
AGovernment policy
BNorm and value
CPolitics
Dinflation and unemployment
EFamily and peer groups
View Explanation & Discuss
Question 24
waec1991
Which of the following are the important functions of any organization?
APlanning, Marketing, Finance and Personnel Management
BPlanning, Organizing, Controlling and Motivating
CPlanning, Production, Controlling anf Marketing
DPlanning, Personnel, Organizing and Motivating
EPlanning, Staffing, Building and Warehouse
View Explanation & Discuss
Question 25
waec1991
The principle of subrogation in insurance means that?
Athe insured could make profit from his loss
Bthe insured must be fully indemnified
Cthose insured should pool their risks
Dparties to the insurance contract must reveal all relevant facts
Ethe insurer takes the place of the insured in respect of claims due from third paarties
View Explanation & Discuss
Question 26
waec1991
Which of the following is a function of marketing?
Amanufacturing
Bquality control
Cbook-keeping
Ddistribution
Eextraction
View Explanation & Discuss
Question 27
waec1991
When a share is bought at a rate below the par value, it is said to have been sold?
Aat a discount
Bcum div
Cat a premium
Dax-div
Epro-rata
View Explanation & Discuss
Question 28
waec1991
A'bear' on the stock exchanges sells share in anticipation of?
Aa fall in price
Ba rise in price
Ca change in price
Dthe liquidation of the company concerned
Enew issues
View Explanation & Discuss
Question 29
waec1991
Which of the following enhances the leading powers of commercial banks?
AHigh bank rate
BIncreased cash reserve ratio
CProvision for bad and doubtful debts
DDecreased liquidity ratio
EIncreased Capital base
View Explanation & Discuss
Question 30
waec1991
The naria is legal tender because it is?
Arecongnizable
Bbacked by law
Cgenerally acceptable
Dhomogeneous
Eportable
View Explanation & Discuss
Question 31
waec1991
A document issued by the government authorizing a person to take goods out of the country for sale abroad is known as?
Aexport licence
Bimport licence
Cdock warrant
Dbill of lading
Econsular invoice
View Explanation & Discuss
Question 32
waec1991
A trade deficit means that?
Athe balance of trade is favourable
Bexports are less than imports
Cimports are less than export
Dexports are decreasing
Ethe balance of payments is unfavourable
View Explanation & Discuss
Question 33
waec1991
A merchant wholesaler is one who?
Atakes title to the goods he sells
Bdoes not own the goods he sells
Cearns a commision for serving as an agent
Dsometimes makes retail sales
Eengages in merchandizing
View Explanation & Discuss
Question 34
waec1991
When a seller sends pro-forma invoice to a potential customer, it is?
Aan indication that the seller is out of business
Ban indication that the goods are out of stock
Ca polite way of asking him to return the goods already purchased
Dan invitation to the purchaser to buy on hire-purchase
Ean indication that credit will not be granted
View Explanation & Discuss
Question 35
waec1991
A documents which a retailer sends to a wholesaler requesting him to supply items is called?
Aa letter of inquiry
Ba catalogue
Can invoice
Dan order
Ea tender invoice
View Explanation & Discuss
Question 36
waec1991
The use of catalogues is associated with?
Ahawkers
Broadside traders
Cmobile shops
Dchain stores
Email-order business
View Explanation & Discuss
Question 37
waec1991
Which of the following is a retail outlet to eliminate the profit of middlemen?
AProducer co-operative
BConsumer co-operative
CThrift and Credit Society
DDepartment store
EMultiple shop
View Explanation & Discuss
Question 38
waec1991
Which of the following is statutorily responsible for providing information and incentives required to increase the volume of Made-in-Nigeria goods in foreign markets?
AAssociation of Nigeria Exports
BNigeria Export Promotion Council(NEPC)
CGeneral Agreement onTariffs and Trade(GATT)
DAssociation of Nigeria Importers
EManufacturers Association of Nigeria
View Explanation & Discuss
Question 39
waec1991
The manufacturer would by-pass the wholesaler and the retailer in the distribution of his products if the?
ADemand is widespread
BWholesaler and retailer lack office accomodation
CVolume of production is high
DThe product make-up and use are highly technical
EManufacturer has no warehouse
View Explanation & Discuss
Question 40
waec1991
Restoring the insured to his former position by the insurer in the event of his suffering the specified loss is called?
