Neco Commerce Past Questions and Answers

Question 211:

• NECO 2004

Kate insured her fancy store for losses arising from burglary. The store was later burnt down. Which insurance principle denied her compensation?

A. Contribution
B. Indemnity
C. Proxirnate cause
D. Subrogation
E. Utmost good faith

Question 212:

• NECO 2004

Which of the following best describes span of control

A. Directors in an organisation
B. Financial controllers within an organisation
C. Shareholders in a company
D. Subordinates that an executive supervises
E. Subordinates who can work on their own

Question 213:

• NECO 2004

Goods are given utility by _____________

A. Changing their forms and location
B. Consuming them
C. Costing their value
D. Numbering and counting them
E. Packing and measuring them

Question 214:

• NECO 2004

Which of the following documents shows a summary of a complete sale which the supplier sends to the buyer?

A. Credit note
B. Debit note
C. Delivery note
D. Invoice
E. Quotation

Question 215:

• NECO 2004

Which of the following is a non-insurable risk

A. Cash-in-transits
B. Consequential loss
C. Fire
D. Home accidents
E. Speculative venture