Waec Commerce Past Questions and Answers

Question 321:

• WAEC 1991

(a) Explain five reasons why many small business turn into private limited liability companies.
(b) What are the disadvantages of such a decision?

Question 322:

• WAEC 1992

The three main division of production are?

A. Extraction, manufacturing and construction
B. Import, export and entrepot
C. Industry, commerce and direct service
D. Industry, trade and direct service

Question 323:

• WAEC 1992

The three main division of production are?

A. Extraction, manufacturing and construction
B. Import, export and entrepot
C. Industry, commerce and direct service
D. Industry, trade and direct service

Question 324:

• WAEC 1992

Into which of the following two broad areas can trade be divided?

A. Home and foreign trade
B. Home and retail trade
C. Wholesale and retail trade
D. Foreign and wholesale trade
E. Import and exports

Question 325:

• WAEC 1992

Which of the following is not true of a sole proprietorship?

A. It has a separate legal entity
B. It has unlimited liability
C. It has a slim chances of expansion
D. The capital is small
E. It can convert into a company