2002 WAEC Commerce Past Questions & Answers - page 1

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1
The distribution and exchange of goods and services for the satisfaction of wants in the concern of?

A
production
B
utility
C
commerce
D
industry

Correct Option: C

No further explanations yet...

2
Transforming raw materials into finished products is an example of?

A
primary production
B
secondary production
C
tertiary production
D
direct service

Correct Option: B

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3
Transforming raw materials into finished products is an example of?

A
primary production
B
secondary production
C
tertiary production
D
direct service

Correct Option: B

No further explanations yet...

4
Which of the following is concerned with actual production of goods and services?

A
Commerce
B
Trade
C
Industry
D
Service

Correct Option: C

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5
Which of the following has no limit to its membership?

A
Ordinary partnership
B
Private Limited Company
C
Limited partnership
D
Cooperative society

Correct Option: D

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6
Which of the following does not lead to the dissolution of a partnership?

A
Absence of a deed of partnership
B
Withdrawal of a partner
C
Incapacity of any of the partners
D
Completion of contractual term

Correct Option: A

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7
An offer by one company to buy up all or greater part of another company's share is known as?

A
merger
B
take-over bid
C
absorption
D
liquidation

Correct Option: B

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8
The refund of a duty which had been paid on importation that are later re-exported is known as?

A
export tax
B
surtax
C
customs drawback
D
liquidation

Correct Option: C

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9
Which of the following is an internal source of capital to a business concern?

A
Trade credit
B
Debenture
C
overdraft
D
Retain profit

Correct Option: D

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10
Which of the following is an internal source of capital to a business concern?

A
Trade credit
B
Debenture
C
overdraft
D
Retain profit

Correct Option: D

No further explanations yet...

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