WAEC QUESTIONS CONTD

COMMERCE 101

Hey Readers, Happy New Week. Well its Holiday Season so it's time to slow down on the tutorials and intensify the questions revision from JAMB, GCE, WAEC etc in order to remember what we have done previously and to test ourselves. We started Last week and we are continuing today, So let's get started.......

1. A Shop Repairer is engaged in a?

a. Service Occupation

b. Manufacturing

c. Extractive Occupation

d. Commercial Occupation.

2. The goods that are used for the Production of other goods are known as?

a. Commercial Goods

b. Consumer Goods

c. Capital Goods

d. Non-Durable Goods.

3. Which of the following brings about Specialization?

a. Recruitment of Staff

b. Division of Labour

c. Business Resource

d. Employer of Labour.

4. Which of the following refers to all the resources used in creating utilities?

a. Fixed Capital

b. Factors of Production

c. Entrepreneurship

d. Labour.

5. Which of the following enables people to consume a variety of goods and services?

a. Labour

b. Capital

c. Land

d. Exchange.

6. A Business Unit in which profits are shared on the basis of members' patronage is known as?

a. Partnership

b. Public Limited Company

c. Co-operative Society

d. Private Limited Company.

7. A Public Limited Company wishing to obtain more capital may have to?

a. Apply for Subvention

b. Buy Treasury Bills

c. Buy Second- Hand Securities

d. Issue Debentures.

8. The Safe-Keeping of Goods from the point of production to the time they are needed is?

a. Standardizing

b. Warehousing

c. Hoarding

d. Stock Controlling.

9. The Document which regulates the operations of a Partnership is known as?

a. Deed

b. Articles of Association

c. Prospectus

d. Certificate of Trading.

10. A Company is said to be insolvent when?

a. It makes a Loss in any one year

b. Its Total Liabilities exceed Total Assets

c. The Ordinary Shareholders receive No Dividend from the Company

d. The Preference Shareholders could not be paid by the Company.

11. Which of the following is formed in order to enforce the rights and powers of Buyers in relation to Sellers?

a. Consortium

b. Trade Association

c. Consumer Association

d. Holding Company.

12. Which of the following documents is used to Advertise Shares to the Public?

a. Letter of Allotment

b. Articles of Association

c. Memorandum of Association

d. Prospectus.

13. A Major Advantage of the Private Company over a Partnership is that the Private Company?

a. Can Sell  Shares

b. Has Limited Liability

c. Can Publish Its Account

d. Is Allowed to Borrow from Commercial Banks.

NOTE: SOME OF THE QUESTIONS IN THIS POST WAS CULLED FROM WEST AFRICA EXAM COUNCIL 1999 PAPERS. THANKS

This brings us to the end of today's session. Hope this was very helpful to you, leave a comment of what you think of this tutorial and Pls try to attempt the Questions on your own. Have a Blessed Day and Remember You are Amazing. God Bless.