WAEC Commerce Past Questions & Answers - Page 85

421.

The process of taking over the management and control of a privately owned business by government is

A.

indigenization

B.

nationalization

C.

participation

D.

privatization

Correct answer is B

No explanation has been provided for this answer.

422.

It is safer and quicker to transport petrol and gas by

A.

rail

B.

road

C.

pipeline

D.

air

Correct answer is C

No explanation has been provided for this answer.

423.

In a limited partnership, one of the members must be

A.

a general partner

B.

a nominal partner

C.

an active partner

D.

a dormant partner

Correct answer is A

No explanation has been provided for this answer.

424.

Demurrage is paid by a vessel for

A.

overloading

B.

travelling along unplanned route

C.

delaying at the port

D.

not using the services at the wharf

Correct answer is C

No explanation has been provided for this answer.

425.

The principle where many insurance companies join to compensate one policy holder is called?

A.

contribution

B.

subrogation

C.

compensation

D.

indemnity

Correct answer is A

No explanation has been provided for this answer.