Neco Commerce 2005 Past Questions and Answers

Question 11:

• NECO 2005

In the event of winding up of a company, who among the following is paid last?

A. Cumulative preference shareholders
B. Debenture holders
C. Ordinary shareholders
D. Preference Shareholders
E. Trade creditors

Question 12:

• NECO 2005

Which of the following is NOT a credit instrument?

A. Bank Notes
B. Bill of Exchange
C. Bill of Lading
D. Cheques
E. Promissory Notes

Question 13:

• NECO 2005

Which of the following forms part of a company’s Article of Association?

A. Goodwill and status of shareholders
B. Name of the company
C. Nature and object of the business
D. Registered office
E. Voting powers and the use of proxy

Question 14:

• NECO 2005

Which of the following types of insurance is usually excluded from the principle of indemnity?

A. Fidelity Guarantee
B. Fire
C. Life
D. Marine
E. Motor Vehicle

Question 15:

• NECO 2005

Stock exchange quoted the shares of ABC Plc at N0.75K for N1.25K per share. This means the shares were sold at a ____________

A. Discount
B. Gain
C. Loss
D. Par value
E. Premium