Waec Commerce 2006 Past Questions and Answers

Question 46:

• WAEC 2006

Which of the following is not a feature of a sole trader

A. Quick decision making
B. Guaranteed profits
C. Unlimited liability
D. Bearing losses alone

Question 47:

• WAEC 2006

A practice where producers of the same product come together to advertise is known as

A. Mass advertising
B. Institutional advertising
C. Direct advertising
D. Persuasive advertising

Question 48:

• WAEC 2006

(a) What is foreign trade?
(b) Explain four ways by which foreign trade is different from home trade.
(c) State five reasons why countries restrict foreign trade.

Question 49:

• WAEC 2006

(a) State three differences between:
(i) shareholders and debenture holders.
(ii) Ordinary shares and preference shares.
(b) Explain four reasons for winding up a public limited company.

Question 50:

• WAEC 2006

(a) What is non-indemnity insurance?
(b) List and explain three types of life assurance policies.
(c) Explain the term surrender value.