by Sunday | Mar 14 | Commerce WAEC
A. co-operative society B. trade union C. trust fund D. chamber of commerce Correct Answer: Option D D. chamber of commerce Explanation A chamber of commerce (or board of trade) is a form of business network, for example, a local organization of businesses whose goal...
by Sunday | Mar 14 | Commerce WAEC
A. between two countries only B. within many countries C. among many countries D. between neighbouring countries only Correct Answer: Option C C. among many countries Explanation Multilateral trade agreements are commerce treaties between three or more nations. The...
by Sunday | Mar 14 | Commerce WAEC
A. called-up capital B. authorized capital C. paid-up capital D. unpaid capital Correct Answer: Option A A. called-up capital Explanation The authorized capital of a company is the maximum amount of share capital that the company is authorized by its constitutional...
by Sunday | Mar 14 | Commerce WAEC
A. hire purchase B. overdraft C. lease D. debenture Correct Answer: Option B B. overdraft Explanation An overdraft is an extension of credit from a lending institution when an account reaches zero. Overdrafts come with interest and additional fees and should only be...
by Sunday | Mar 14 | Commerce WAEC
A. quick decision making B. unlimited liability C. pride of ownership D. unlimited source of capital Correct Answer: Option B B. unlimited liability Explanation The main disadvantages to being a sole proprietorship are: Unlimited liability: Your small business, in the...