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Commerce 1993 WAEC Past Questions

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11
Any action taken by a company outside its stated objective is regarded as?
  • A. caveat vendetta
  • B. Trepass
  • C. ultra vires
  • D. uberrimae fidei
  • E. a nuisance
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12
Incorporation simply means the?
  • A. floating of a company
  • B. reorganization of a company
  • C. birth of a company
  • D. registration of the Memorandum of Association
  • E. appointment of a new Board of Directors
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13
A business unit whose membership ranges from 2-50 is a?
  • A. public corporation
  • B. partnership
  • C. public company
  • D. private company
  • E. co-operative society
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14
Founders shares are usually referred to as deferred shares because the holders?
  • A. are not entitled to any dividend
  • B. receives their dividends before other share holders
  • C. are the managers of the company
  • D. receive dividends after other shareholders
  • E. are entitled to accumulative dividends
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15
The reward of shareholding in a company is?
  • A. profit
  • B. dividend
  • C. interest
  • D. bonus
  • E. premium
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