Explanation

Different classes of shares a public limited company can issue are:

(i) Ordinary shares

(ii) Cumulative preference shares

(iii) Preference shares

(iv) Participating preference shares

(v) Redeemable preference shares.

(vi) Differed or founder's shares.

(i)Ordinary shares; are also known as " equities" as they rank equally. Holders are the real owners of public limited companies. They receive dividends only after other fixed interest holders have been paid. Holders of ordinary shares can vote and be voted for. Ordinary shares are not redeemable and there is no fixed rate of dividend.

(ii)In cumulative preference shares; the holders have priority in the share of dividends over others. They get arrears of dividends not paid before other classes get dividends. The holders have no voting right. The shares receive fixed dividend.

(iii)Preference shares; have fixed rate of dividend. The owners receive dividend first before all others. The holders are also entitled to return of capital first at winding-up. Holders have no voting right.

(iv)Participating preference; shares receive fixed rate of dividend like other preference shares. They also get dividends first before the ordinary shares. They are entitled to further dividend after the ordinary shares have received a specified percentage of the profits.

(v)Redeemable preference;shares have prior claims before all other preference shares. They have the disadvantage of being bought back by the company. Hence, the name, redeemable. The companies use their profits or proceeds of further issue: shares to buy back these shares. This type of shares are issued to finance particular projects to be repaid when project is completed.

(vi)Differed or Founder's shares;are issued to the founders of the company. They are no Ionger common in public limited company. Holders have right to the remaining profit after ordinary shares have receive stated amount. They are often issued as a part payment to the owners of a company that have been bought up.

Correct Answer: A. Igbo society

Explanation

i. Nigeria played an active role in the information of Economic Community of West African States (ECOWAS) as well as being an initial signatory to the Lagos Treaty

ii. Provision of high profile personnel for the ECOWAS Secretariat/agencies since its inception

iii. Nigeria Heads of State had served as chairman of ECOWAS

iv. Nigeria has played major roles in peace-keeping operations in Liberia, Sierra Leone and Coted'lvoire

v. Nigeria regularly attends all ECOWAS summits.

vi. Nigeria contributes to the development of ECOWAS by hosting summits and conferences

vii. Nigeria makes available petroleum products to other ECOWAS countries in need

viii. Membership of ECOWAS Parliament makes Nigeria to contribute to sub-regional issues

ix. Financial contribution: Nigeria pays her dues regularly to both the Secretariat and the ECOWAS Fund

x. Actively participates in ECOWAS sponsored activities like trade fair, sports etc

xi. Gives humanitarian assistance to citizens of ECOWAS countries who have been displaced as a result of war

xii. Implementation of ECOWAS protocols e.g the protocol in democracy and good governance, protocol on the fight against corruption etc

xiii. Nigeria has joined other ECOWAS countries in undertaking key projects e.g West African Gas Pipeline

xiv. Nigeria has allowed free movement of ECOWAS citizens, goods and services

xv. Sending officials to monitor elections in member states.

Correct Answer: A. articulates the views of individuals

Correct Answer: D. thought

Correct Answer: D. descend

Explanation

Ascend means to go up or climb. The word that is most nearly opposite in meaning is option D ''descend''. To descend means to move or fall downwards.

Correct Answer: C. feed from different soil layers

Explanation

(a)

- Gold

- Slaves

- Hides and skin

- Ostrich feathers

- Gum

- Kolanuts

- Ivory

- Beeswax

- Camwood

(b)

- The North African towns were embroiled in internal and external conflicts.

- The cities of Gao, Timbuctu/Timbuktu and Janne declined in economic importance.

- The Portuguese exploration of Africa opened a new window of trade with Europeans on the coast of West Africa.

- As the trade in gold was declining the trade in slaves was increasing rapidly on the West African Coast.

- The Europeans introduced items of trade which were cheaper and more attractive.

- The Moroccan invasion of Songhai in the 16th century.

- The power struggle in Bornu and Hausaland in the 17th and 18th Centuries.

- Iron items were used for religious purposes.

Correct Answer: A. no cambium

Correct Answer: D. Si and Pb