Neco Commerce 2005 Past Questions and Answers

Question 26:

• NECO 2005

Transfer of ownership of goods sold under Hire Purchase System takes place when ____________ paid.

A. A deposit is
B. A quarter of the total price is
C. Half of the total price is
D. The final instalment is
E. Two instalment have been

Question 27:

• NECO 2005

The most common form of business unit in West Africa is ____________

A. Co-operative society
B. Joint stock company
C. Partnership
D. Public corporation
E. Sole proprietor-ship

Question 28:

• NECO 2005

Which of the following is NOT a component of trade?

A. Auction
B. Bilateral
C. Multi-lateral
D. Retail
E. Wholesale

Question 29:

• NECO 2005

Which of the following does NOT belong to the group?

A. Banking
B. Insurance
C. Retailing
D. Transport
E. Warehousing

Question 30:

• NECO 2005

A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a ____________

A. Boat
B. Ferry
C. Liner
D. Tanker
E. Tramp