Neco Commerce 2001 Past Questions and Answers

Question 16:

• NECO 2001

What is NOT a supplementary service of banks?

A. Agents for payment
B. Custody of valuables
C. Dealing in foreign exchange
D. Investments
E. Referees

Question 17:

• NECO 2001

What is NOT an instrument of credit?

A. Bills of exchange
B. Cheque
C. Money order
D. Postal order
E. Source document

Question 18:

• NECO 2001

ln partnership business, the maximum number of persons for its formation is ____________

A. Five
B. Fifteen
C. Ten
D. Twenty
E. Twenty five

Question 19:

• NECO 2001

The reward of capital as a factor of production is ____________

A. Dividend
B. Interest
C. Profit
D. Rent
E. Wages

Question 20:

• NECO 2001

____________ is NOT a principle of insurance

A. Utmost good faith
B. Particular average
C. Indemnity
D. Subrogation
E. Insurable interest