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Commerce 2008 WAEC Past Questions

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26
The document which gives legal authority to a company to operate as a legal entity is
  • A. Memorandum of Association
  • B. Article of Association
  • C. Share Certificate
  • D. Certificate of Incorporation
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27
A business that is independent of its owners is a
  • A. sole proprietorship
  • B. partnership
  • C. limited liability company
  • D. co-operative society
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28
The amount paid regularly by the assured to the insurer is
  • A. dividend
  • B. premium
  • C. interest
  • D. indemnity
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29
The net profit is calculated as
  • A. sales less purchases
  • B. sale less expenses
  • C. gross profit less expenses
  • D. gross profit less purchases
View Answer & Discuss (1) WAEC 2008
30
Which of the following carries specialized goods?
  • A. Liner
  • B. Tramp
  • C. Ferry
  • D. Tanker
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