Waec Commerce 2010 Past Questions and Answers

Question 31:

• WAEC 2010

Which of the following is not a disadvantage of a one-man business?

A. Unlimited liability owner
B. Life of business limited to life of owner
C. Personal control of business
D. Difficulty in raising additional capital

Question 32:

• WAEC 2010

Unlimited liability in business implies that the

A. Risk of the owner is limited only to the amount invested
B. Debts are paid with subventions
C. Property of the owners should not be used to secure loans
D. Owners private property can be used to settle the business debts

Question 33:

• WAEC 2010

Sole proprietorship is a form of business owned by

A. An individual
B. Two or more persons
C. A registered business subsidiary
D. The government

Question 34:

• WAEC 2010

Which of these qualities guarantees the keeping of money for a long period?

A. Acceptability
B. Divisibility
C. Durability
D. Homogenity

Question 35:

• WAEC 2010

Which of the following is not a source of fund for sole-proprietorship?

A. Personal savings
B. Borrowing from friends and relatives
C. Borrowing from financial institution
D. Government bonds