Neco Commerce Past Questions and Answers

Question 176:

• NECO 2003

A document which can be used for both internal and external trade is ____________

A. Bill of exchange
B. GIRO
C. I.O.U
D. Portal orders
E. Promising note.

Question 177:

• NECO 2003

Who takes the initial step to form a company prior to its incorporation?

A. Company secretary
B. Managing director
C. Promoter
D. Registrar of company
E. Shareholder

Question 178:

• NECO 2003

The act of bringing a privately owned business under exclusive state ownership and control is referred to as ____________

A. Commercialization
B. Indigenization
C. Nationalization
D. Privatization
E. Rationalization

Question 179:

• NECO 2003

Organizational chart is a diagram showing the ____________

A. Flow of authority and responsibilities in a organization
B. Offices of both subordinates and officials
C. Organization of staff in an organization
D. Positions of workers in an organization
E. Span of management control

Question 180:

• NECO 2003

A share ducted “Cum div”, means that the dividend for the current year will be paid to the ____________

A. Buyer of the shares
B. Broker of the shares
C. Jobber of the shares
D. Seller of the shares
E. Stock exchange authority