Neco Commerce Past Questions and Answers

Question 256:

• NECO 2005

Which of the following forms part of a company’s Article of Association?

A. Goodwill and status of shareholders
B. Name of the company
C. Nature and object of the business
D. Registered office
E. Voting powers and the use of proxy

Question 257:

• NECO 2005

Which of the following types of insurance is usually excluded from the principle of indemnity?

A. Fidelity Guarantee
B. Fire
C. Life
D. Marine
E. Motor Vehicle

Question 258:

• NECO 2005

Stock exchange quoted the shares of ABC Plc at N0.75K for N1.25K per share. This means the shares were sold at a ____________

A. Discount
B. Gain
C. Loss
D. Par value
E. Premium

Question 259:

• NECO 2005

The document that spells out the relationship of a company with the outside world is known as ____________

A. Article of association
B. Certificate of incorporation
C. Deed of partnership
D. Document of registration
E. Memorandum of association

Question 260:

• NECO 2005

The aid to trade which enables producer and consumer to transact business without physical contact is known as ____________

A. Advertising
B. Communication
C. Insurance
D. Tourism
E. Transportation