WAEC Past Questions and Answers - Page 119

591.

Which of the following is legally used by the insured while the policy is being processed?

A.

Cover note

B.

Proposal form

C.

Indemnity form

D.

Premium

E.

Claim Form

Correct answer is A

No explanation has been provided for this answer.

592.

In the capital structure of a Public Limited Company, the term equity refers to

A.

preference shares

B.

ordinary shares

C.

debentures

D.

stocks

E.

bonds

Correct answer is B

No explanation has been provided for this answer.

593.

XYZ Ltd's total sales was #100,000. It had opening stock of #20,000 and closing stock of #22,000. It bought goods worth #80,000 and paid #2,000 for rent.

XYZ Ltd's Net Profit is

A.

#58,000.00

B.

#38,000.00

C.

#24,000.00

D.

#22,000.00

E.

#20,000.00

Correct answer is E

No explanation has been provided for this answer.

594.

XYZ Ltd's total sales was #100,000. It had opening stock of #20,000 and closing stock of #22,000. It bought goods worth #80,000 and paid #2,000 for rent.

XYZ Ltd's profit is

A.

#58,000.00

B.

#42,000.00

C.

#38,000.00

D.

#22,000.00

E.

#20,000.00

Correct answer is D

No explanation has been provided for this answer.

595.

The time allowed for unloading and loading ships is referred to as

A.

days of grace

B.

charter by demise

C.

voyage charter

D.

time charter

E.

lay days

Correct answer is E

No explanation has been provided for this answer.