Waec Commerce 1990 Past Questions and Answers

Question 71:

• WAEC 1990

a partnership agreement specifying the relationship amongst partners is called?

A. Article of association
B. Memorandum of association
C. Partnership act
D. Partnership deed
E. Certificate of incorporation

Question 72:

• WAEC 1990

management can be defined as?

A. Getting things done through people
B. Implementation of business decisions
C. The number of levels in an organisation
D. The general manager and the employees
E. Decision making

Question 73:

• WAEC 1990

The term capital account in international trade includes?
I.foreign investment
II.long-term lending
III. short-term lending
IV.foreign exchange reserve
V.short-term borrowing.

A. I & II only
B. III & V only
C. II, III & IV only
D. I, III & IV only
E. II, IV & V only

Question 74:

• WAEC 1990

money spent for the day-to-day running of a business is called?

A. Fixed capital
B. Working capital
C. Equity capital
D. Capital employed
E. Authorized capital

Question 75:

• WAEC 1990

which of the following is not a fixed asset of a business?

A. Sundry debtors
B. Patent
C. Machinery and plant
D. Goodwill
E. Loose tools