Waec Commerce 2002 Past Questions and Answers

Question 6:

• WAEC 2002

Which of the following has no limit to its membership?

A. Ordinary partnership
B. Private Limited Company
C. Limited partnership
D. Cooperative society

Question 7:

• WAEC 2002

Which of the following does not lead to the dissolution of a partnership?

A. Absence of a deed of partnership
B. Withdrawal of a partner
C. Incapacity of any of the partners
D. Completion of contractual term

Question 8:

• WAEC 2002

An offer by one company to buy up all or greater part of another company's share is known as?

A. Merger
B. Take-over bid
C. Absorption
D. Liquidation

Question 9:

• WAEC 2002

The refund of a duty which had been paid on importation that are later re-exported is known as?

A. Export tax
B. Surtax
C. Customs drawback
D. Liquidation

Question 10:

• WAEC 2002

Which of the following is an internal source of capital to a business concern?

A. Trade credit
B. Debenture
C. Overdraft
D. Retain profit