Waec Commerce 2003 Past Questions and Answers

Question 6:

• WAEC 2003

When a public company receives the certificate of incorporation, this implies that?

A. It can go ahead and start business
B. It can no longer sue or be sued
C. The company finds it difficult to raise capital
D. The company's assets exist separately from those of its members

Question 7:

• WAEC 2003

When a number of thrift societies come together and are registered, they become a?

A. Holding company
B. Credit union
C. Trade union
D. Consumer association

Question 8:

• WAEC 2003

Which of the following would not be stated in Memorandum of Association?

A. Name clause
B. Registered office
C. Objective clause
D. Rights of shareholders

Question 9:

• WAEC 2003

The greatest risk in a business venture is borne by the?

A. Trade creditors
B. Employees
C. Trade debtors
D. Entrepreneurs

Question 10:

• WAEC 2003

A partner without an unlimited liability is known as a?

A. Dormant partner
B. Nominal partner
C. General partner
D. Active partner