WAEC Commerce Past Questions & Answers - Page 329

1,641.

Organization formed mainly by traders and manufacturers to cater for the interest of their members is called?

A.

trade union

B.

co-operative societies

C.

trade association

D.

chamber of commerce

E.

manufacturers association

Correct answer is C

No explanation has been provided for this answer.

1,642.

Which of the following is not required for the dissolution of a partnership?

A.

Experiation of partnership deed

B.

Termination of the venture

C.

One partner notifying the other of his intention to dissolve it

D.

mutual consent of the partners

E.

Order from the registrar of companies

Correct answer is E

No explanation has been provided for this answer.

1,643.

Which of the following is not true of limited partnership?

A.

Every member is a limited partner

B.

All members are general partners

C.

All members are limited liability

D.

There is at least one ordinary partner

E.

Limited and ordinary members must be equal in number

Correct answer is D

No explanation has been provided for this answer.

1,644.

A partnership is formed for banking business is made up of?

A.

2 - 10 members

B.

2 -20members

C.

2 - 30 members

D.

2 - 40 members

E.

2 - 50 members

Correct answer is A

No explanation has been provided for this answer.

1,645.

The insured is the?

A.

insurance company

B.

insurance company's client

C.

insurance broker

D.

insurance agent

E.

insurance manager

Correct answer is B

No explanation has been provided for this answer.