Neco Commerce Past Questions and Answers

Question 281:

• NECO 2005

Association of people in the same line of business is known as ____________

A. Chambers of commerce
B. Holding company
C. Monopolistic association
D. Producers association
E. Trade association

Question 282:

• NECO 2005

The most important document an importer requires to be able to clear his goods from the harbour is ____________

A. Bill of exchange
B. Bill of lading
C. Bill of sale
D. Invoice from the shopper
E. Marine insurance

Question 283:

• NECO 2005

The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is ____________

A. Advice note
B. Credit note
C. Debt note
D. Invoice
E. Pro-forma invoice

Question 284:

• NECO 2005

The components of a balance of payments account are ____________

A. Capital, current and fixed deposit
B. Capital, savings and fixed deposit
C. Current, capital and monetary movement
D. Current, savings and monetary movement
E. Current, savings and fixed deposit

Question 285:

• NECO 2005

A typical example of an event covered by an Assurance Policy is ____________

A. Accident
B. Burglary
C. Death
D. Fire
E. Theft