WAEC Past Questions and Answers - Page 338

1,686.

The fee which the bank charges for services rendered to their current account customers is?

A.

commission on turnover

B.

bank rate

C.

minimum lending rate

D.

interest

Correct answer is D

No explanation has been provided for this answer.

1,687.

The distribution of profits based upon the level of patronage in the business is a common feature of?

A.

partnership firms

B.

public limited companies

C.

co-operative societies

D.

private limited companies

Correct answer is C

No explanation has been provided for this answer.

1,688.

An advantage of a public limited company over a private one is the?

A.

limited liability of shareholders

B.

easy transferability of shares

C.

access to retained earnings

D.

less taxation by government

Correct answer is B

No explanation has been provided for this answer.

1,689.

Production is defined as?

A.

an industrial undertaking

B.

creation of utility

C.

earning ones daily bread

D.

the changing of raw materials

Correct answer is B

No explanation has been provided for this answer.

1,690.

Which of the following coordinates other factors of production to achieve set objectives?

A.

Land

B.

Labour

C.

Enterprenuer

D.

Capital

Correct answer is C

No explanation has been provided for this answer.