Waec Model Questions Vol1 2022 Commerce Question 7

Practice essay / theory question 7 from the 2022 Waec Model Questions Vol1 Commerce examination. This question covers Business Organizations .

Waec Model Questions Vol1 2022 Commerce Essay / Theory

Topic: Business Organizations

Question 7 WAEC_MODEL_QUESTIONS_VOL1 • 2022 • COMMERCE • essay

A group of three graduates plans to start a technology‑consulting firm that will provide IT solutions to corporate clients. They intend to raise capital from private investors, limit their personal liability, and eventually expand operations across Nigeria.

Question Parts

( a )

Identify the most suitable form of business organization for the start‑up and give one reason for your choice.

( b )

Outline the legal steps required to register the chosen form of organization in Nigeria.

( c )

Discuss two advantages and two disadvantages of the chosen form when compared with a sole proprietorship.

( d )

In its first year the business records a loss of ₦500,000. Explain how this loss would be treated for tax purposes under the chosen form of organization.

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About This Question

This is Waec Model Questions Vol1 2022 Commerce Question 7. It is one of the essay questions from the 2022 Waec Model Questions Vol1 Commerce examination.

The question covers Business Organizations .

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