Waec Commerce 2007 Past Questions and Answers

Question 6:

• WAEC 2007

A partnership cannot raise its capital by

A. Selling shares to the public
B. Personal contribution of partners
C. Admission of new partners
D. Undistributed profits

Question 7:

• WAEC 2007

Which of the following is not required in the mail order business?

A. Warehouse
B. Catalogue
C. Display room
D. Post office

Question 8:

• WAEC 2007

The staff responsible for the calculations of probability of losses in insurance is the

A. Actuary
B. Underwriter
C. Broker
D. Solicitor

Question 9:

• WAEC 2007

The rate at which the country's import exchanges for its export is known as

A. Terms of trade
B. Balance of trade
C. Rate of exchange
D. Terms of exchange

Question 10:

• WAEC 2007

Where a limited partner exists in a partnership

A. No active partner is needed
B. Other partners must be nominal
C. At least one ordinary partner must be there
D. At least one member must be a legal practitioner