Waec Commerce Past Questions and Answers

Question 171:

• WAEC 1990

a partnership agreement specifying the relationship amongst partners is called?

A. Article of association
B. Memorandum of association
C. Partnership act
D. Partnership deed
E. Certificate of incorporation

Question 172:

• WAEC 1990

management can be defined as?

A. Getting things done through people
B. Implementation of business decisions
C. The number of levels in an organisation
D. The general manager and the employees
E. Decision making

Question 173:

• WAEC 1990

The term capital account in international trade includes?
I.foreign investment
II.long-term lending
III. short-term lending
IV.foreign exchange reserve
V.short-term borrowing.

A. I & II only
B. III & V only
C. II, III & IV only
D. I, III & IV only
E. II, IV & V only

Question 174:

• WAEC 1990

money spent for the day-to-day running of a business is called?

A. Fixed capital
B. Working capital
C. Equity capital
D. Capital employed
E. Authorized capital

Question 175:

• WAEC 1990

which of the following is not a fixed asset of a business?

A. Sundry debtors
B. Patent
C. Machinery and plant
D. Goodwill
E. Loose tools