WAEC Commerce Past Questions & Answers - Page 145

722.

Who among the following has no right of ownership to a business organization?

A.

Shareholder

B.

Enterpreneur

C.

Partner

D.

Debenture holder

E.

Sole-proprietor

Correct answer is D

No explanation has been provided for this answer.

723.

The imposition of high tariff on imported goods by the customs authority is to

A.

protect businessmen

B.

encourage imports

C.

encourage the consumption of foreign goods

D.

discourage exports

E.

protect infant industries

Correct answer is E

No explanation has been provided for this answer.

724.

Assets of a business which cannot easily be changed into cash are known as

A.

floating capital

B.

fixed capital

C.

working capital

D.

paid-up capital

E.

current capital

Correct answer is B

No explanation has been provided for this answer.

725.

When an assured is unable to honor his obligation in an insurance contract thereby terminating it before maturity he could only receive

A.

indemnity

B.

the sum insured

C.

the surrender value

D.

compensation

E.

premium

Correct answer is C

No explanation has been provided for this answer.