Waec Commerce 1997 Past Questions and Answers

Question 81:

• WAEC 1997

An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as

A. Del credere-agent
B. General agent
C. Broker
D. Factor
E. Special agent

Question 82:

• WAEC 1997

The total assets of Ogo Plc is #16,000 and the liabilities included loan #2,000, creditors #1,000 and electricity bill #2,000. Calculate the capital owned by the company?

A. #21,000.00
B. #18,000.00
C. #17,000.00
D. #16,000.00
E. #11,000.00

Question 83:

• WAEC 1997

Ali Plc with issued capital of #500,000 in #1.00 shares has for now requested shareholders to pay only 50k for each #1.00 share. The amount requested from the shareholders by the company is called?

A. Issued capital
B. Called-up capital
C. Paid-up capital
D. Capital owned
E. Borrowed

Question 84:

• WAEC 1997

When a company raises additional capital by selling shares directly to the public through insurance companies or investment houses, this is known as

A. Rights issue
B. Bonus issue
C. Private placing
D. Debenture issue
E. Preference share issue

Question 85:

• WAEC 1997

Which of the following is not one of the aims of indigenization? To

A. Reduce the remittance of profits aboard
B. Increase the control of the government over its economy
C. Expose the indigenes to different business enterprises
D. Collection of indemnity by third party only
E. Transfer of a portion of risk from one insurer to another