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Commerce Past Questions and Answers

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Waec Commerce Questions

Question 321:

(a) Explain five reasons why many small business turn into private limited liability companies.
(b) What are the disadvantages of such a decision?

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Question 322:

The three main division of production are?

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A Extraction, manufacturing and construction
B Import, export and entrepot
C Industry, commerce and direct service
D Industry, trade and direct service

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Question 323:

The three main division of production are?

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A Extraction, manufacturing and construction
B Import, export and entrepot
C Industry, commerce and direct service
D Industry, trade and direct service

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Question 324:

Into which of the following two broad areas can trade be divided?

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A Home and foreign trade
B Home and retail trade
C Wholesale and retail trade
D Foreign and wholesale trade
E Import and exports

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Question 325:

Which of the following is not true of a sole proprietorship?

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A It has a separate legal entity
B It has unlimited liability
C It has a slim chances of expansion
D The capital is small
E It can convert into a company

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