WAEC Commerce Past Questions & Answers - Page 21

101.

To endorse a cheque means to

A.

write and sign one's name at the back of the cheque

B.

write "pay cash" on the cheque

C.

cross the cheque

D.

stop the payment of the cheque

Correct answer is A

No explanation has been provided for this answer.

102.

A market which deals in the purchase and sale of second hand securities is the

A.

Stock Exchange

B.

Building Society

C.

Shippers Council

D.

Co-operative

Correct answer is A

No explanation has been provided for this answer.

103.

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.

104.

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

105.

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