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Commerce Past Questions and Answers

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Commerce Questions

Question 91:

The difference between Articles of association and memorandum of Association is that the latter deals

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A With the Internal working relationship of the company and its members
B With the powers and relationships of the company with outsiders
C The method of issue, transfer and future of the company's shares
D The rights and responsibilities of shareholders

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Question 92:

All except one is not a corporation and boards at the federal level

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A FRCN
B NNPC
C CBN
D MAN

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Question 93:

The basic characteristics of co-operative society include all except one

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A It is managed democratically
B It follows the principle of one man
C Amateur Management
D Extra capital is raised through loan

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Question 94:

Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

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A Private limited liability
B Public limited liability
C Partnership
D Co-operative society

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Question 95:

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

stockPurchase	1000	7000	Sales	8000
Closing Stock	3000

Trading Expenses[table the figures given, calculateGross profit

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A 300
B 3000
C 6000
D 11000

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