Neco Commerce 2003 Past Questions and Answers

Question 31:

• NECO 2003

Who takes the initial step to form a company prior to its incorporation?

A. Company secretary
B. Managing director
C. Promoter
D. Registrar of company
E. Shareholder

Question 32:

• NECO 2003

The act of bringing a privately owned business under exclusive state ownership and control is referred to as ____________

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

Question 33:

• NECO 2003

Organizational chart is a diagram showing the ____________

A. Flow of authority and responsibilities in a organization
B. Offices of both subordinates and officials
C. Organization of staff in an organization
D. Positions of workers in an organization
E. Span of management control

Question 34:

• NECO 2003

A share ducted “Cum div”, means that the dividend for the current year will be paid to the ____________

A. Buyer of the shares
B. Broker of the shares
C. Jobber of the shares
D. Seller of the shares
E. Stock exchange authority

Question 35:

• NECO 2003

Which of the following organizations look after harbours, docks and waterways in Nigeria?

A. Nigeria Ports Authority
B. Nigeria Navy
C. Nigeria Export Promotion Council
D. Nigeria Shippers Council
E. Nigeria Customs Service