Neco Commerce 2004 Past Questions and Answers

Question 36:

• NECO 2004

Which of the following is NOT part of the documents to be submitted for the registration of companies?

A. A statement of nominal capital
B. A statutory declaration signed by a solicitor
C. Articles of Association
D. Memorandum of Association
E. The balance sheet of the company

Question 37:

• NECO 2004

The major divisions of commerce are _____________

A. Buying and selling
B. Export and import
C. Foreign and home
D. Trade and aids to trade
E. Wholesale and retail

Question 38:

• NECO 2004

The organisation of petroleum exporting countries (OPEC) is an example of a/n _____________

A. Amalgamation
B. Cartel
C. Consortium
D. Holding company
E. Merger

Question 39:

• NECO 2004

The excess value of all the assets of a business over the value of its liabilities is called _____________

A. Capital employed
B. Capital owned
C. Circulating capital
D. Loan capital
E. Share capital

Question 40:

• NECO 2004

A bill of lading is best described as the _____________

A. Certificate of quality of goods
B. Certificate of value for the goods on board
C. Document of title to the goods on board a ship
D. Document showing where the goods are going to
E. Evidence of payment of custom duties