WAEC Business Management Essay Objective Question And Answer

WAEC Business Management Essay Objective Question And Answer

WAEC Business Management Essay Objective Question And Answer 2021

Answer all the questions.

Each question is followed by four options lettered A to D. Find the correct option for each question. Shade in pencil on your answer sheet the answer space which bears the same letter as the option you have chosen. Give only one answer to each question.

Think carefully before you shade the answer spaces; erase completely any answers you wish to change. Do all rough work on this question paper. Now answer the following questions.

1. A business organization whose source of capital is from government subvention or grants is a
A. co-operative society.
B. public corporation.

C. public limited liability company.
D. small-scale enterprise.

2. State-owned enterprises must at least break-even. This means
A. their prices must be affordable.
B. N their profit must exceed their operational cost.

C. they must generate revenue to just cover cost.
D. they must maximize profit.

3. A person who wants information about the history and viability of a company for the purpose of buying shares must look for the
A. articles of association.

B. proposal.
C. prospectus.

D. regulation of a company.

4. An effective way to enhance co-ordination in an organization is through
A. adequate planning.
B. committee meetings.

C. regular delegation.
D. staff motivation.

5. The exchange of services between two countries is
A. balance of trade.
B. invisible trade.

C. terms of trade.
D. visible trade.

6. The last element in the channel of distribution is the
A. consumer.
B. distributor.

C. importer.
D. wholesaler.

7. Governments can protect infant industries from foreign competition by
A. giving them loans.
B. increasing excise duties.

C. increasing tariffs.
D. reducing the exchange rates.

8. An investor who buys shares at lower prices hoping to sell at a higher price is
A. an agent.
B. a bear.

C. a bull.
D. a jobber.

9. Which of the following taxes is a component of customs duty?
A. Income tax
B. Excise duty

C. Export duty
D. Sales tax

10. An exporter who deals in tangible goods is engaged in
A. counter trade.
B. entrepot trade.

C. invisible trade.
D. visible trade.


1.1 Meaning and Process of

1.2 Forms of Business

1.3 Business and Society

1.1.1 Meaning of Management and

1.1.2 Basic Functions of Management
1.1.3 Levels of Management

1.1.4 Types and Roles of Managers 1.1.5 Difference between Administration
and Management

1.2.1 Meaning of Business Organization
1.2.2. Identification of Major Forms: (Sole

Proprietorship, Partnership, (Sole Proprietorship,
Limited Liability Company, Public
orations, Co-operative society) Co-operative society) Company, Public orations, Co-operative society)
1.2.3. Procedures for the

advantages and disadvantages of each

1.2.4 Causes of business failure.

1.3.1 Meaning of Business Environment
Business Environment, Business Environment, Environment Business Environment,
1.3.2 Forces in the Businesses Environment Environment

1.3.3 Ethical, legal and social
responsibilities of Businesses. responsibilities of Businesses.
1.3.4 Primary and Secondary stakeholders –
meaning and differences.

1.3.5 Responsibilities of businesses towards

2.1.1 Meaning and importance of planning of planning
2.1.2 Steps in planning, Types of planning, Limitations to planning
.2.1.3 Meaning and of planning, Limitations

to planning
2.1.3 Meaning and importance of decision
making. importance of decision making. planning importance of decision making. stakeholders. businesses towards stakeholders. 1.


2.2 Organizing

2.3 Directing

2.4 Controlling 2.1.4 Step in the decision making process.
2.1.5 Types of (Programmed and Non-programmed) decisions. Non-programmed) decisions. making process. 2.1.5 Types of (Programmed and Non-programmed) decisions.

2.1.6 Levels of management decisions.

2.2.1 Meaning, importance and activities of organizing
2.2.2 Principles of organizing, Organizational structure and Organizational chart

2.2.3 Centralization and decentralization-meaning differences, advantages and disadvantages.
2.2.4 Meaning and benefits of delegation.

2.2.5 Reasons why managers do not delegate
2.2.6 Reasons why subordinates do not accept Delegation

2.2.7 Guidelines for delegation, etc.

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