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Commerce 2022 WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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11

Which of the following documents would a shareholder inspect to know his voting rights?

  • A. Articles of Association
  • B. Certificate of Incorporation
  • C. Certificate of Trading
  • D. Memorandum of Association
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12

An internal source of finance to an entrepreneur is

  • A. trade credit
  • B. retained earning
  • C. overdraft
  • D. debenture
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13

 

Use the information below to answer question 13 and 14

  #
Sales 50,000.00
Debtors 10,000.00
Cash-in-hand 5,000.00
Opening stock 30,000.00
Creditors 8,000.00
Purchases 16,000.00
Overdraft 12,000.00
Closing stock 10,000.00

 

calculate the working capital.

  • A. #35,000.00
  • B. #20,000.00
  • C. #15,000.00
  • D. #14,000.00
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14

Sales ----------------------------------- #50,000
Debtors -------------------------------- #10,000
Cash-in-hand --------------------------#5,000
Opening stock -------------------------#30,000
Creditors ------------------------------- #8,000
Purchases ----------------------------- #16,000
Overdraft ------------------------------- #12,000
Closing stock -------------------------- #10,000

Calculate the gross profit.

  • A. #35,000.00
  • B. #20,000.00
  • C. #15,000.00
  • D. #14,000.00
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15

A partner who contributes only his name to the formation of a partnership is

  • A. a nominal partner
  • B. a limited partner
  • C. a general partner
  • D. an active partner
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