WAEC Past Questions and Answers - Page 57

281.

A private limited company differs from a public limited company because it

A.

offers rights issues to existing shareholders

B.

has a separate entity from the owners

C.

cannot easily transfer shares

D.

declares dividend

Correct answer is C

No explanation has been provided for this answer.

282.

Which of the following features is common to all retailers

A.

Operating as sole-proprietors

B.

Selling to the final consumers

C.

Operating with small capital

D.

Selling on hire purchase to consumers

Correct answer is B

Standing as the last man who sells directly to consumers is one of the functions applicable to almost all retailers.  

283.

The internal regulations of a limited company are stated in the

A.

Memorandum of Association

B.

Certificate of Incorporation

C.

Articles of Association

D.

Share certificate

Correct answer is C

The article of association clearly states the activities and regulations that will bind and guide the internal dealings of a company

284.

The document which helps to determine the country from where goods were imported is

A.

bill of lading

B.

ship's manifest

C.

certificate of origin

D.

certificate of trading

Correct answer is C

A certificate of origin is simply a document that states where the product was produced, manufactured, or processed. 

285.

Which of the following is a reduction in the catalogue price?

A.

Rebate

B.

Cash discount

C.

Commission

D.

Trade discount

Correct answer is D

No explanation has been provided for this answer.