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Commerce 2010 WAEC Past Questions

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11

Which of the following must be stated in the article of association?

  • A. the objects of the company
  • B. the registered office address of the company
  • C. the method of issue and transfer of shares
  • D. Statement that liabilities are limited
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12

Which of the following insurance principles states that a person must be in a position to suffer financially in the event of a loss?

  • A. Proximate cause
  • B. Indemnity
  • C. Insurable interest
  • D. Subrogation
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13

Catalogs are mostly used by

  • A. chain stores
  • B. department stores
  • C. mail order firms
  • D. supermarkets
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14

The main function of a thrift and credit cooperative society is to

  • A. encourage members to buy cheaply
  • B. enable members get the highest profit
  • C. help members get legal redress
  • D. encourage members to save
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15

The exchange of goods for goods in home trade is known as

  • A. entrepot trade
  • B. trade by barter
  • C. commodity trade
  • D. distributive trade
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