Waec Commerce Past Questions For Year 1999
Question 16
A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the company's registered capital?
- A. #50,000.00
- B. #80,000.00
- C. #200,000.00
- D. #400,000.00
Question 17
What is the purpose of a debit note? To
- A. reduce the credit in the buyer's account
- B. reduce the debit charged to an invoice
- C. compensate for damaged goods returned
- D. allow for rebate
Question 18
A bill of exchange becomes negotiable when it is
- A. accepted
- B. protested
- C. dishonoured
- D. discounted
Question 19
A major cost component of running a mail order firm is the
- A. printing of catalogues
- B. paying salemen's salaries
- C. renting shops
- D. travelling expenses
Question 20
Which of the following is not a feature of a Department Store?
- A. One-stop-shopping
- B. Deals in one line of goods
- C. Use of trolleys
- D. Convenient location
