Neco Commerce 2004 Past Questions and Answers

Question 11:

• NECO 2004

The drawer of a cheque is usually the _____________

A. Banker
B. Creditor
C. Debtor
D. Payee
E. Presenter

Question 12:

• NECO 2004

Equity of a company is another name for _____________ shares.

A. Cumulative preference
B. Founders
C. Ordinary
D. Preference
E. Redeemable preference

Question 13:

• NECO 2004

Short-term loan to expand a business is provided by _____________

A. Building societies
B. Central bank
C. Commercial banks
D. Cooperative societies
E. Mortgage banks

Question 14:

• NECO 2004

When manufacturers sell directly to consumers they have eliminated

A. Advertising agents
B. Brokers
C. Middleman
D. Retailers only
E. Wholesalers

Question 15:

• NECO 2004

Kate insured her fancy store for losses arising from burglary. The store was later burnt down. Which insurance principle denied her compensation?

A. Contribution
B. Indemnity
C. Proxirnate cause
D. Subrogation
E. Utmost good faith