WAEC Commerce Past Questions & Answers - Page 302

1,506.

The authorised capital of a company is also referred to as it's?

A.

called-up capital

B.

issued capital

C.

subscribed capital

D.

nominal capital

E.

unissued capital

Correct answer is D

No explanation has been provided for this answer.

1,507.

The main source of income for a limited liability company is?

A.

bank overdraft

B.

government subsidy

C.

undistributed profit

D.

bank loan

E.

share subscrptions

Correct answer is E

No explanation has been provided for this answer.

1,508.

To inform the buyer that the goods are in transit,the seller sends him?

A.

a quotation

B.

an invoice

C.

a debit note

D.

an advice note

E.

a credit note

Correct answer is D

No explanation has been provided for this answer.

1,509.

the reward of capital is?

A.

dividend

B.

interest

C.

profit

D.

rent

E.

rebate

Correct answer is B

No explanation has been provided for this answer.

1,510.

An association formed by Tyre manufacturers to safeguard and promote their interests is known as

A.

co-operative society

B.

chamber of commerce

C.

trade union

D.

consortium

E.

trade association

Correct answer is E

No explanation has been provided for this answer.