WAEC Commerce Past Questions & Answers - Page 77

381.

If the opening stock is Le200, cost of goods sold Le2,400, and closing stock Le120, then the rate of turnover is

A.

20 times

B.

15 times

C.

12 times

D.

7.5 times

Correct answer is B

No explanation has been provided for this answer.

382.

A company may be wound up when

A.

there is a disagreement among the directors

B.

there are too many shareholders

C.

many of the share holders die

D.

its product competes with that of the government

Correct answer is A

No explanation has been provided for this answer.

383.

Which of the following gets extra dividend after its due fixed rate of dividend

A.

Preference shares

B.

Cumulative preference shares

C.

Ordinary shares

D.

Participating preference shares

Correct answer is D

No explanation has been provided for this answer.

384.

The various rights attached to different classes of shares are stated in the

A.

articles of association

B.

memorandum of association

C.

balance sheet

D.

prospectus

Correct answer is A

No explanation has been provided for this answer.

385.

The operations of a private company is guided by the

A.

deed

B.

certificate of trading

C.

certificate of incorporation

D.

company's act

Correct answer is C

No explanation has been provided for this answer.