Waec Commerce 1996 Past Questions and Answers

Question 26:

• WAEC 1996

Which of the following is drawn up as a guide to the running of a Partnership?

A. Deed of Agreement
B. Partnership Act
C. Memorandum of Association
D. Prospectus
E. Articles of Association

Question 27:

• WAEC 1996

The law governing the operations of companies and partnership in Nigeria is the

A. Nigerian Companies Decree
B. Nigerian Partnership Act
C. Nigerian Enterprises Promotion Decree
D. Companies And Allied Matters Decree
E. Sale of Goods Act

Question 28:

• WAEC 1996

Which of the following is a non-indemnity insurance?

A. Personal Accident Insurance
B. Burglary Insurance
C. Fire Insurance
D. Consequential loss Insurance
E. Third Party Insurance

Question 29:

• WAEC 1996

The document issued to a newly formed public company to commence business is called the

A. Certificate of incorporation
B. Articles of association
C. Memorandum of association
D. Trading certificate
E. Insurance certificate

Question 30:

• WAEC 1996

Small scale retail attracts a lot of new enterpreneurs in West Africa because

A. Many people have had good training in retail trade
B. It is easy to succeed with the business
C. Banks are always ready to lend retailers
D. Only a small amouynt of capital is needed to start the business
E. Government exempts retailers from paying tax