Neco Commerce Past Questions and Answers

Question 11:

• NECO 2000

Which area of law is NOT related to business?

A. Agency
B. Contract
C. Hire purchase
D. Possession
E. Sale of goods

Question 12:

• NECO 2000

The policy designed to accelerate the greater participation of Nigerians in the ownership and management of business enterprises in Nigeria is called ____________

A. Commercialization
B. Indigenity
C. Industrialization
D. Nationalis-ation
E. Privatization

Question 13:

• NECO 2000

An instruction to an agent abroad restricting him to buy from a named manufacturer is known as ____________

A. A closed indent
B. An open indent
C. An order
D. Pro forma invoice
E. A standing order

Question 14:

• NECO 2000

An allowance made to a customer for prompt payment is known as ____________

A. . allowance
B. Bulk discount
C. Cash discount
D. Commission
E. Trade discount

Question 15:

• NECO 2000

Which of the following can be used to establish an importer's title to goods?

A. Bill of exchange
B. Bill of lading
C. Cargo receipt
D. Import licence
E. Way bill