Waec Commerce 1998 Past Questions and Answers

Question 76:

• WAEC 1998

Which of the following guides the operations of a Partnership?

A. Memorandum of Association
B. Articles of Association
C. Certificate of trading
D. Certificate of Incorporation
E. The Deed

Question 77:

• WAEC 1998

A partner who contributes to the capital but does not take part in running the business is known as

A. A sleeping partner
B. An active partner
C. A general partner
D. A nominal partner
E. A limited partner

Question 78:

• WAEC 1998

Which of the following assists a Nigerian producer to participate in trade fairs and exhibitions abroad?

A. Nigerian Ports Plc
B. Shipping and Clearing Agents
C. Federal Airports Authority of Nigeria
D. Customs and Excise Authority
E. Nigerian Exports Promotion Council

Question 79:

• WAEC 1998

One way of importing goods without the use of foreign exchange is through

A. Exchange controls
B. Entrepot trade
C. Quota
D. Tarriffs
E. Counter trade

Question 80:

• WAEC 1998

Balance of trade is said to be favourable when

A. Visible imports exceed visible imports
B. Invisible exports exceed visible imports
C. Invisible imports exceed visible exports
D. Visible exports exceed visible imports
E. Visible exports exceed invinsible imports