WAEC Past Questions and Answers - Page 63

311.

A group of musicians can come together to form a

A.

chamber of commerce

B.

public corporation

C.

trade association

D.

trade union

Correct answer is C

A trade association is an organization founded and funded by people that operate in a specific industry. If group of musicians come together to form an association that can promote and protect its members' interest, then it is a trade association 

312.

A chamber of commerce normally consists of

A.

officials of the trade unions of commercial workers

B.

all the people engaged in one aspect of trading and manufacturing

C.

all the workers in one branch of commerce

D.

the people who represent a cross-section of business interests in a town

Correct answer is D

No explanation has been provided for this answer.

313.

If a customer opens a deposit account with a bank, he will

A.

recieve a crossed cheque book

B.

be given a tally

C.

be given a loan

D.

recieve interest

Correct answer is D

No explanation has been provided for this answer.

314.

Which of the following receives dividend based on patronage?

A.

Preference shareholder

B.

Co-operative society member

C.

Cumulative preference shareholder

D.

Debenture holder

Correct answer is A

No explanation has been provided for this answer.

315.

A cheque dated 30th July, 2004 but presented for payment on 28th February, 2005 is

A.

post-dated

B.

crossed

C.

opened

D.

stale

Correct answer is D

No explanation has been provided for this answer.