Neco Commerce Past Questions and Answers

Question 206:

• NECO 2004

The insurance policy that specifically covers damage to structure or machinery of a ship is known as _____________ insurance.

A. Cargo
B. Hull
C. Marine
D. Ship owners
E. Time

Question 207:

• NECO 2004

The drawer of a cheque is usually the _____________

A. Banker
B. Creditor
C. Debtor
D. Payee
E. Presenter

Question 208:

• NECO 2004

Equity of a company is another name for _____________ shares.

A. Cumulative preference
B. Founders
C. Ordinary
D. Preference
E. Redeemable preference

Question 209:

• NECO 2004

Short-term loan to expand a business is provided by _____________

A. Building societies
B. Central bank
C. Commercial banks
D. Cooperative societies
E. Mortgage banks

Question 210:

• NECO 2004

When manufacturers sell directly to consumers they have eliminated

A. Advertising agents
B. Brokers
C. Middleman
D. Retailers only
E. Wholesalers