WAEC Past Questions and Answers - Page 500

2,496.

The oldest and commonest form of business in Nigeria is?

A.

partnership

B.

the co-operative society

C.

sole proprietorship

D.

joint stock veture

E.

public corporation

Correct answer is C

No explanation has been provided for this answer.

2,497.

Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The cost of goods sold is?

A.

N6000

B.

N10000

C.

N42000

D.

N16000

E.

20000

Correct answer is A

No explanation has been provided for this answer.

2,498.

In his first letter to the Thessalonians, Paul asked Christian not to grieve like others, for some of their members who have fallen asleep because

A.

Those who have fallen asleep will rise again

B.

Sleep is a natural way of taking a rest after a day’s job

C.

They were soon to join those who have fallen asleep

D.

Fallen asleep is an inescapable lot of everybody

E.

Only sinners fall asleep; hence no mourning for them

Correct answer is A

No explanation has been provided for this answer.

2,499.

Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The average stock is?

A.

N2000

B.

N2000

C.

N5000

D.

N6000

E.

N7000

Correct answer is C

No explanation has been provided for this answer.

2,500.

Which of the following is one of the functions of commerce?

A.

Manufacturing

B.

Growing of tomatoes

C.

Storage of goods

D.

Construction of roads

E.

Car assemblying

Correct answer is C

No explanation has been provided for this answer.