1998 WAEC Commerce Past Questions & Answers - page 1

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1
Commerce is concerned mainly with the?

A
production of goods and services
B
distribution of goods and services
C
consumption of goods and services
D
storing of goods

Correct Option: B

No further explanations yet...

2
The two main branches of trade are?

A
commerce and aids to trade
B
home and foreign trade
C
foreign and entrepot trade
D
wholesale and retail trade

Correct Option: B

No further explanations yet...

3
Commerce is concerned mainly with the

A
production of goods and services
B
distribution of goods and services
C
consumption of goods and services
D
storing of goods

Correct Option: B

No further explanations yet...

4
The two main branches of trade are

A
commerce and aids to trade
B
home and foreign trade
C
foreign and entreport trade
D
whole sale and retail trade

Correct Option: B

No further explanations yet...

5
Who among the following is not engaged in a commercial occupation

A
a stock brocker
B
an engineer
C
a banker
D
a common carrier

Correct Option: B

No further explanations yet...

6
On which of the following grounds may a company be compulsorily wound up?

A
the company is making abnormal profits
B
it did not declare dividends every year
C
its products compete with that of a government company
D
it fails to commence business within a year of its incorporation

Correct Option: D

No further explanations yet...

7
The management and control of co-operative societies are in the hands of the

A
contributors
B
Board of Directors
C
Committee
D
Financial controller

Correct Option: A

No further explanations yet...

8
Key industries and those requiring huge capital are usually established as

A
public corporations
B
public limited companies
C
private limited companies
D
holding companies

Correct Option: A

No further explanations yet...

9
Movement of commercial vehicles in Nigeria is controlled by the

A
Nigerian Ports Authority
B
National Association of Road Transport Workers
C
Federal Ministry of Transport
D
Nigerian Customs Authority

Correct Option: B

No further explanations yet...

10
The reward of entrepreneurship as a factor of production is

A
interest
B
commission
C
profit
D
salary

Correct Option: C

No further explanations yet...

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