Waec Commerce 2007 Past Questions and Answers

Question 26:

• WAEC 2007

Which of the following gets extra dividend after its due fixed rate of dividend

A. Preference shares
B. Cumulative preference shares
C. Ordinary shares
D. Participating preference shares

Question 27:

• WAEC 2007

A company may be wound up when

A. There is a disagreement among the directors
B. There are too many shareholders
C. Many of the share holders die
D. Its product competes with that of the government

Question 28:

• WAEC 2007

If the opening stock is Le200, cost of goods sold Le2,400, and closing stock Le120, then the rate of turnover is

A. 20 times
B. 15 times
C. 12 times
D. 7.5 times

Question 29:

• WAEC 2007

The money used by Njie & Co. Ltd in running the day-to-day activities of the business is represented by

A. Total assets less total liabilites
B. Total assets less current liabilities
C. Current assets less stock
D. Current assets less current liabilities

Question 30:

• WAEC 2007

A limited company has an authorized capital of 20,000,000 shares. If each share capital costs 5ok and the company sold 12,000,000 shares, its issued capital is

A. #16,000,000
B. #10,000,000
C. #6,000,000
D. #4,000,000