Neco Commerce 2004 Past Questions and Answers

Question 21:

• NECO 2004

Business transactions are usually based upon agreements known as _____________

A. Confidence
B. Contract
C. Good-will
D. Proposal
E. Understanding

Question 22:

• NECO 2004

The prospectus of a company must include _____________

A. Names and addresses of management staff
B. The certificate of incorporation
C. The directors remuneration
D. The value of annual dividend
E. Types of shares available and their cost

Question 23:

• NECO 2004

Who among the following assess goods on arrival at a port?

A. Agent
B. Customs
C. Importer
D. Shipping company
E. Ship owner

Question 24:

• NECO 2004

The right to retain possession of property of another until certain legitimate demands are satisfied is known as _____________

A. Agency
B. Copyright
C. Guarantee
D. Lien
E. Patent

Question 25:

• NECO 2004

The value of money is measured by the _____________

A. Amount of goods and services a unit of it can purchase
B. Amount of its unit people can hold
C. . ease at which people can spend a unit of it
D. Quantity of it in circulation
E. Rate of national development