WAEC Commerce Past Questions & Answers - Page 78

386.

Which of the following refers to a voluntary association that represents a cross-section of business interests in an area?

A.

Manufacturers Association

B.

Chamber of Commerce

C.

Consumers Association

D.

Employers Association

Correct answer is B

No explanation has been provided for this answer.

387.

A document used to advertise shares for sale is

A.

prospectus

B.

annual report

C.

articles of association

D.

memorandum of association

Correct answer is A

No explanation has been provided for this answer.

388.

A limited company has an authorized capital of 20,000,000 shares. If each share capital costs 5ok and the company sold 12,000,000 shares, its issued capital is

A.

#16,000,000

B.

#10,000,000

C.

#6,000,000

D.

#4,000,000

Correct answer is C

No explanation has been provided for this answer.

389.

The money used by Njie & Co. Ltd in running the day-to-day activities of the business is represented by

A.

total assets less total liabilites

B.

total assets less current liabilities

C.

current assets less stock

D.

current assets less current liabilities

Correct answer is D

No explanation has been provided for this answer.

390.

If the opening stock is Le200, cost of goods sold Le2,400, and closing stock Le120, then the rate of turnover is

A.

20 times

B.

15 times

C.

12 times

D.

7.5 times

Correct answer is B

No explanation has been provided for this answer.