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Commerce
WAEC 1998
Commerce 1998 WAEC Past Questions
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Introduction to Commerce
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56
An association of small scale retailers formed to to encourage bulk buying from manufacturers is known as a
A.
voluntary chain
B.
producer co-operative society
C.
multiple store
D.
department store
E.
hypermarket
View Answer & Discuss
WAEC 1998
57
The agency in Nigeria which ensures that products conform to government specifications and quality control is the
A.
Nigerian Labour Congress
B.
Manufacturers Association of Nigeria
C.
Nigerian Chamber of Commerce
D.
Standards Organization of Nigeria
E.
Ministry of Commerce and Industry
View Answer & Discuss
WAEC 1998
58
The management of a company with a view to ending its operation is known as
A.
low gearing
B.
high gearing
C.
liquidation
D.
horizontal integration
E.
vertical integration
View Answer & Discuss
WAEC 1998
59
Any action taken by a company outside its stated objectives is regarded as
A.
caveat emptor
B.
ultra vires
C.
uberrimae fidei
D.
exemption
E.
formality
View Answer & Discuss
WAEC 1998
60
Measuring performance against the set objectives is a management function that relates to
A.
staffing
B.
planning
C.
organizing
D.
motivating
E.
controlling
View Answer & Discuss
WAEC 1998
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