Waec Commerce 2020 Past Questions and Answers

Question 41:

• WAEC 2020

A partner whose name is used to boost the image of the business and does not contribute capital is a?

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

Question 42:

• WAEC 2020

One advantage of sole proprietorship is that?

A. Access to large capital is easy
B. Decisions are made promptly
C. Business risks are spread
D. Continuity of business is assured

Question 43:

• WAEC 2020

A business unit in which savings of members are lent to others is a?

A. Consumer cooperative society
B. Producer cooperative society
C. Credit and thrift society
D. Wholesale cooperative society

Question 44:

• WAEC 2020

The document issued to a public company allowing it to commence business is the?

A. Article of association
B. Certificate of incorporation
C. Memorandum of association
D. Certificate of trading

Question 45:

• WAEC 2020

Which of the following is not a function of a consumer association?

A. Ensuring that consumers buy quality goods
B. Educating consumers on their rights
C. Penalizing importers of fake goods
D. Ensuring that fair prices are charged