Commerce 2002 Neco Past Questions and Answers

Question 31 :

• NECO 2002

Assets of a business which can easily be changed into cash are called ____________

A. Authorized capital
B. Current liabilities
C. Fixed assets
D. Liquid capital
E. Paid-up capital

Question 32 :

• NECO 2002

Assets of a business which can easily be changed into cash are called ____________

A. Authorized capital
B. Current liabilities
C. Fixed assets
D. Liquid capital
E. Paid-up capital

Question 33 :

• NECO 2002

When one party to a contract refuses to perform the obligations assumed under the contract, there is ____________

A. Breach of contract
B. Frustration
C. Operational law
D. Performance
E. Voluntary agreement of the parties

Question 34 :

• NECO 2002

Which holder receives interest?

A. Cumulative preference
B. Debenture
C. Non-cumulative
D. Ordinary share
E. Preference shares

Question 35 :

• NECO 2002

The process by which the government takes over private business is known as ____________

A. Commercialization
B. Indigenization
C. Nationalization
D. Naturalization
E. Privatization