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Home
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Commerce
WAEC 2003
Commerce 2003 WAEC Past Questions
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Introduction to Commerce
Meaning, scope, characteristics and functions of Commerce
History of Commerce
Relationship of Commerce with other areas of production
Importance of Commerce in the economy
Occupations
Meaning and Importance
Types of occupations: Industrial, commercial, direct and indirect services
Factors influencing choice of occupation
Production
Meaning and types: Primary, secondary, tertiary
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Inter-relationship between production and exchange
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Meaning and objectives of business
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Meaning and types of capital
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Role of Bureau de Change
Trade Associations and Economic Groups
Trade and manufacturer associations
Chambers of Commerce
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Economic groups: ECOWAS, IMF, IBRD, UNCTAD, etc.
Trade - Home Trade
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Balance of trade/payment, terms of trade
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Legal Aspects of Business
Simple contract
Agency, Sale of Goods Act, Hire Purchase Act
Employer/employee rights
Government regulations
Consumer protection
ICT in Commerce
Computer applications
ICT terms
E-commerce, E-banking, E-business
Business Environment and Social Responsibility
Types of environment
Safe products and pollution
Corporate social responsibility
Nationalisation, Indigenisation and Divestiture
Meaning, aims, advantages, disadvantages
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6
When a number of thrift societies come together and are registered, they become a?
A.
holding company
B.
credit union
C.
trade union
D.
consumer association
View Answer & Discuss
WAEC 2003
7
Which of the following would not be stated in Memorandum of Association?
A.
Name clause
B.
Registered office
C.
Objective clause
D.
Rights of shareholders
View Answer & Discuss
WAEC 2003
8
The greatest risk in a business venture is borne by the?
A.
trade creditors
B.
employees
C.
trade debtors
D.
entrepreneurs
View Answer & Discuss
WAEC 2003
9
A partner without an unlimited liability is known as a?
A.
dormant partner
B.
nominal partner
C.
general partner
D.
active partner
View Answer & Discuss (4)
WAEC 2003
10
A partnership without a deed shares profits/losses?
A.
in the ratio of partners' capital
B.
equally among the partners
C.
proportionate to patronage
D.
proportionate to assets introduced
View Answer & Discuss (1)
WAEC 2003
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