Waec Commerce 1997 Past Questions and Answers

Question 71:

• WAEC 1997

A business unit whose membership range from 2 to 20 is a

A. Co-operative society
B. Partnership
C. Private limited company
D. Public limited company
E. Public enterprise

Question 72:

• WAEC 1997

Which of the following conditions may lead to the dissolution of a partnership?

A. Expiry of agreed time
B. Termination of venture
C. One partner becomes dormant
D. Mutual consent of the partners
E. Bankruptcy of partners

Question 73:

• WAEC 1997

Which of the following is a legal tender?

A. Central Bank cheque
B. Bank notes
C. Bankdraft
D. Traveller's cheque
E. Bill of exchange

Question 74:

• WAEC 1997

Which of the following takes the shortest time and is the most accurate means of communication?

A. Telephone
B. Express letter
C. Recorded delivery
D. Airmail letter
E. Telegraph

Question 75:

• WAEC 1997

When an assured is unable to honor his obligation in an insurance contract thereby terminating it before maturity he could only receive

A. Indemnity
B. The sum insured
C. The surrender value
D. Compensation
E. Premium