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Neco Commerce Past Questions and Answers

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Neco Commerce Past Questions

Question 196:


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:


The last link in the chain of distribution is the _____________

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


Question 198:


All are aids to Trade EXCEPT

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


Question 199:


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:


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

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






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