Waec Commerce 1999 Past Questions and Answers

Question 11:

• WAEC 1999

A company is said to be insolvent when

A. It makes a loss in any one year
B. Its total liabilities exceed total assets
C. The ordinary shareholders recieve no dividend from the company
D. The preference shareholders could not be paid by the company

Question 12:

• WAEC 1999

Which of the following is formed in order to enforce the rights and powers of buyers in relation to sellers?

A. Consortium
B. Trade Association
C. Consumer Association
D. Holding company

Question 13:

• WAEC 1999

A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the company's registered capital?

A. #50,000.00
B. #80,000.00
C. #200,000.00
D. #400,000.00

Question 14:

• WAEC 1999

A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the paid up capital?

A. #50,000.00
B. #100,000.00
C. #150,000.00
D. #200,000.00

Question 15:

• WAEC 1999

A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the called-up capital

A. #50,000.00
B. #100,000.00
C. #200,000.00
D. #400,000.00