Neco Commerce 2007 Past Questions and Answers

Question 41:

• NECO 2007

The principle of insurance that prevents the insured from benefiting in an event where he suffers no material or financial loss is ____________

A. Indemnity
B. Insurable
C. Proximate cause
D. Subrogation
E. Utmost good faith

Question 42:

• NECO 2007

Which of the following relies on subvention as the main source of capital?

A. Cooperative society
B. Partnership
C. Public corporation
D. Public limited company
E. Sole trader

Question 43:

• NECO 2007

A disadvantage of commercialization of public enterprises in Nigeria is that it ____________

A. Creates room for competition with private owned enterprises
B. Enables consumers have value for their money
C. Generates funds for government
D. Leads to reduction in work force
E. Promotes efficiency

Question 44:

• NECO 2007

The losses incurred in the running of Public Corporations are borne by the ____________

A. Board of directors
B. Debenture holders
C. Managing director
D. Shareholders
E. Tax payers

Question 45:

• NECO 2007

An example of service rendering trade association is ____________

A. Association of Nigerian Miners
B. Cocoa Farmers’ Association
C. Manufacturers Association of Nigeria
D. Nigerian Bar Association
E. Saw millers Association of Nigeria