Neco Commerce Past Questions and Answers

Question 196:

• NECO 2003

A cheque is not a legal tender because it is ____________

A. Not mandatory to a creditor to accept it
B. Not negotiable
C. Transferable
D. Only a representation of money
E. Should be paid into a bank account

Question 197:

• NECO 2004

The last link in the chain of distribution is the _____________

A. Consumer
B. Manufacturer
C. Producer
D. Retailer
E. Wholesaler

Question 198:

• NECO 2004

All are aids to Trade EXCEPT

A. Advertising
B. Banking
C. Retailing
D. Transportation
E. Warehousing

Question 199:

• NECO 2004

Profit in partnership is shared according to _____________

A. Agreement in the deed
B. Amount contributed by each partner
C. Number of hours put in by each partner
D. Seniority of partner
E. Types of partners

Question 200:

• NECO 2004

At an auction sale, an auctioneer acts as a/an _____________

A. Agent
B. Attorney
C. Broker
D. Principal
E. Representative