Waec Commerce 1991 Past Questions and Answers

Question 31:

• WAEC 1991

Which of the following must be submitted to the Registrar of Companies before the company is incorporated?

A. Articles of Association and Certificate of Incorporation
B. Memorandum of Association and Certificate of Incorporation
C. Articles of Association and Memorandum of Association
D. Memorandum of association and Prospectus
E. Certificate of Incorporation and Prospectus

Question 32:

• WAEC 1991

Which of the following is a feature of Co-operative Societies?

A. Each member has several votes during meetings
B. Profits are shared on the basis of shares held
C. All members have equal votes during meetings
D. Members are not involved in running the business
E. The welfare of members is not taken into consideration

Question 33:

• WAEC 1991

Workers involved in mining, quarrying or fishing are engaged in?

A. Secondary production
B. Primary production
C. Tertiary production
D. The manufacturing industry
E. The construction industry

Question 34:

• WAEC 1991

Which of the following is not a method of trade restriction?

A. Exchange control
B. Stock exchange
C. Import licence
D. Embargo
E. Quota

Question 35:

• WAEC 1991

When a customer writes a cheque to withdraw cash from his current account, he is both the?

A. Drawer and the Payee
B. Drawee and the Payee
C. Drawer and the Debtor
D. Drawer and the Creditor
E. Drawee and the Debtor