Neco Commerce Past Questions and Answers

Question 56:

• NECO 2001

In the stock exchange what is the day when the parties to a transaction decide whether the bargain should be completed held over until the next settlement?

A. Account
B. Contango
C. Making- up
D. Name
E. Ticket

Question 57:

• NECO 2001

ln stock exchange, the buyer is NOT entitled to the dividend when the stock is quoted

A. Clean
B. Cum-dividend
C. Double barrelled
D. Ex-dividend
E. Firm

Question 58:

• NECO 2001

What is NOT a principle of an insurance contract?

A. Contribution
B. Indemnity
C. Insurable interest
D. Premium
E. Subrogation

Question 59:

• NECO 2001

What is NOT a characteristic of a Private Limited Liability Company?

A. A shareholder is not free to transfer his shares to someone without the permission of others
B. Its shares cannot be offered to the public through the stock market
C. The liability of shareholders is not limited to the amount of shams taken up
D. The minimum and maximum number of shareholders is seven and infinity respectively
E. The minimum and maximum number of shareholders is two and fifty respectively

Question 60:

• NECO 2001

What is the OBJECT of a co-operative society?

A. Diversify the members’ produce tor international purpose
B. Gain freedom in marketing the members’ produce
C. Indulge in large scale production and earn huge profits
D. Popularize government policies among the members
E. Provide an agency for meeting the economic needs of members