Waec Commerce Past Questions and Answers

Question 141:

• WAEC 1990

When a business is insolvent it may result in?

A. Incorporation
B. Recuperation
C. Liquidation
D. Restoration
E. Nationalization

Question 142:

• WAEC 1990

In insurance the term Uberrimae fidei stands for?

A. Utmost good faith
B. Suborgation
C. Insurable interest
D. Indemnity against loss
E. Proximate cause

Question 143:

• WAEC 1990

Fidelity guarantee is an insurance cover against loss arising from?

A. Trade debts
B. Personal accidents
C. Dishonest staff
D. Fire disaster
E. Sea disaster

Question 144:

• WAEC 1990

Which of the following is a type of marine insurance?

A. Endowment
B. Freight
C. Accident
D. Fidelity
E. Fire

Question 145:

• WAEC 1990

The word Ltd written after the name of a company means that?

A. The individual member's capital is limited
B. The total sum of the company's capital is limited
C. Members are liable to the extent of their holding
D. Company's location is limited
E. A shareholder has only one vote