Waec GCE Commerce 2023 Questions And Answers
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Waec GCE Commerce 2023 Questions And Answers
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Waec gce commerce Answers 2023
COMMERCE OBJ
01-10: ACBCCABDBB
11-20: DCABBDABDC
21-30: DAADDCCACD
31-40: ACDDACBCBA
41-50: AADBABCCAD
COMPLETED
WAEC GCE COMMERCE THEORY
(1a)
(1b)
Step 1: The promoter devises a scheme of capitalisation, bearing in mind the cost of formation, assets to be bought and working capital.
Step 2: The promoter is required to secure the service of a solicitor to prepare certain documents to be filed with the registrar of companies. The documents are
(i) memorandum of association
(ii) Article of Association
(iii) statement of Nominal capital
Step 3: The documents are stamped and lodged with the registrar of companies.
Step 4: After going through the documents, the registrar of companies then issues a certificate of incorporation to the company. This gives the company the power to commence business.
Step 5: A private company can commence business after recieving the certificate of incorporation.
(5a)
Stock market is a market where stocks (pieces of ownership in businesses) are traded. These are traded between investors. It also has markets for investment vehicles like mutual funds, derivatives, and exchange-traded funds. While commodity market is a marketplace where raw or primary products are exchanged. These products, such as oil, gold, and copper, are often commodities extracted from the ground.
(5b)
(Pick Any Four)
(i) Aluminium
(ii) Copper
(iii) gold
(iv) silver
(v) palladium
(vi) platinum
(5c)
(Pick Any Four)
(i)Increase in agricultural production: Commodity exchange ensure an increase in agricultural production in the sense that once produce are harvested and sold with ease and with good profits, this will give more encouragement for the farmers to produce more.
(ii)Stabilization in agricultural product pricing: Positive commodity exchange do encourage the farmers to produce more because of the assurance that whatever they produce, their products must be purchased because of the stable prices they enjoy.
(iii)Generation of employment: Commodity exchange generally involves exports and imports and these activities enable many people to be gainfully employed in making commodity exchange possible.
(iv)Encourage exploration of solid minerals: A country that enjoy more income as a result of the importation of some mineral resource will be encourage to explore more mineral resources in order to increase more income.
(v)Foreign exchange earnings: Countries that export their commodities (Agricultural and other mineral resources) generally earn more income through foreign exchange earnings.
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Waec GCE Commerce Questions And Answers 2023
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