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Commerce Past Questions and Answers

Commerce Questions

Question 91:
The difference between Articles of association and memorandum of Association is that the latter deals
  • 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
  • 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
  • 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
  • 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.<table class='tbn'><tbody><tr><td> stockPurchase </td><td> 1000 </td><td> 7000 </td><td> Sales </td><td> 8000 </td></tr><tr><td> Closing Stock </td><td> 3000 </td></tr></tbody></table><br/><br/>Trading Expenses[table the figures given, calculateGross profit
  • A 300
  • B 3000
  • C 6000
  • D 11000
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