Neco Commerce Past Questions and Answers

Question 71:

• NECO 2001

A syndicate is an/a ____________

A. Association formed by the joining together of firms which were previously independent
B. Association of firms at the same stage of production, formed for the purpose of keeping up prices
C. Association of firms for the regulation of output and prices
D. Combination of firm which carry on the same kind of business such as retailing
E. Company that controls one or more other companies by holding majority of their shares

Question 72:

• NECO 2001

The bringing of ownership and management of a former private industry under the control of the government is called

A. Corporation
B. Industrialization
C. Nationalization
D. Participation
E. Privatization

Question 73:

• NECO 2001

The feature of a supermarket is ____________

A. Having central control from head-office
B. Sales common household goods
C. Sales of goods without owning shops
D. Similarity in shops’ frontages
E. That there are many shops under a roof

Question 74:

• NECO 2001

The Articles of Association of a company do NOT contain

A. A method of dealing with any alterations in the amount of capital
B. A method of sharing profits and the payment of dividends
C. A procedure for calling general meeting/method of voting
D. The amount of the authorized capital, showing its division into shares
E. The issue, transfer and forfeiture of shares

Question 75:

• NECO 2001

The word ‘Commerce’ means ____________

A. Buying and selling of goods and services
B. Exchange and distribution of goods and services
C. Life-blood of every nation
D. Production of utilities
E. Trade and all the services which assist trade