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Commerce Past Questions and Answers

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Commerce Questions

Question 241:

Which of the statements below is true of Mr Abayomi?

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A He can assign his shares to another without consent of other partners
B He cannot take part in the management of the business
C His actions as a limited partner can bind the firm
D His death will automatically dissolve partnership

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Question 242:

A source of capital to private limited companies is shares issued to

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A The public
B Selected persons
C Members of the borad of directors
D Dedicated members of staff

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Question 243:

Which of the following is an example of a conglomerate?

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A National Electric Power Authority
B United Africa Company Nigeria Plc
C The Nigeria Railway Corporation
D First Bank of Nigeria Plc

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Question 244:

Which of the following statement is true of preferred stockholders?

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A They have no voting rights at annual general meetings
B They first claim company asset before creditors
C The have first claim to company asset after all debts have been settled
D They share dividends equally with common shareholders

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Question 245:

A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm's common stock is known the?

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A Pre-emptive right
B Shareholders right
C Ex-dividend right
D Over-subscription right

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