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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
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Trade Associations and Economic Groups
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Trade - Home 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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11
They total amount of money actually received by a company out of the issued capital is?
A.
paid - up capital
B.
unissued capital
C.
reserved capital
D.
called-up capital
View Answer & Discuss (1)
WAEC 2003
12
If the turnover of as business is N16,000 and the cost of goods N12,000, what is the percentage of gross profit on sales?
A.
75%
B.
40%
C.
33%
D.
25%
View Answer & Discuss
WAEC 2003
13
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
WAEC 2003
14
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 (1)
WAEC 2003
15
In which of the following do shareholders always vote according to their shareholdings?
A.
Partnership
B.
Cooperative society
C.
Public limited company
D.
Public corporation
View Answer & Discuss (2)
WAEC 2003
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