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Commerce 1996 WAEC Past Questions

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26
The law governing the operations of companies and partnership in Nigeria is the
  • A. Nigerian Companies Decree
  • B. Nigerian Partnership Act
  • C. Nigerian Enterprises Promotion Decree
  • D. Companies And Allied Matters Decree
  • E. Sale of Goods Act
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27
Which of the following is a non-indemnity insurance?
  • A. Personal Accident Insurance
  • B. Burglary Insurance
  • C. Fire Insurance
  • D. Consequential loss Insurance
  • E. Third Party Insurance
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28
The document issued to a newly formed public company to commence business is called the
  • A. certificate of incorporation
  • B. articles of association
  • C. memorandum of association
  • D. trading certificate
  • E. insurance certificate
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29
Small scale retail attracts a lot of new enterpreneurs in West Africa because
  • A. many people have had good training in retail trade
  • B. it is easy to succeed with the business
  • C. banks are always ready to lend retailers
  • D. only a small amouynt of capital is needed to start the business
  • E. government exempts retailers from paying tax
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30
In marine insurance, the deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
  • A. a constructive loss
  • B. a partial loss
  • C. a general average loss
  • D. a total loss
  • E. an actual total loss
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