WAEC Past Questions and Answers - Page 21

101.

The object clause of a limited liability company is stated in the

A.

Memorandum of Association

B.

Article of Association

C.

Certificate of Incorporation

D.

Trading certificate

Correct answer is A

memorandum of association contains a name clause, registered office clause, object (or objective clause), objects clause, liability clause, capital clause, and association clause.

102.

The Board of Directors of Public corporation is appointed by the

A.

government

B.

shareholders

C.

management

D.

employees

Correct answer is A

Members of the Board of Directors of Public Corporations are appointed by the by the minister heading the ministry

103.

The last link in the production process is the

A.

transporter

B.

wholesaler

C.

consumer

D.

retailer

Correct answer is C

The last link in the production process is When goods reach the final consumer 

104.

Which of the following is not the function of commerce

A.

the conversion of raw materials into semi-finished products

B.

the conversion of semi-finished products into end products

C.

Provision of services to customers

D.

The exchange and distribution of goods and services

Correct answer is D

No explanation has been provided for this answer.

105.

If a share is quoted ex-div, it means the new buyer would

A.

get the next dividend

B.

not get the next dividend

C.

get a fixed dividend

D.

not get any dividend

Correct answer is B

Ex-dividend describes a stock that is trading without the value of the next dividend payment.