Neco Commerce Past Questions and Answers

Question 326:

• NECO 2007

In which order are the following documents used?

I. Enquiry
II. Delivery note
III. Order
IV. Invoice
V. Quotation

A. I, II, III, IV and V
B. I, V, III, IV and II
C. II, I, IV, III and V
D. III, II, V, I and IV
E. V, IV, I, III and II

Question 327:

• NECO 2007

The final stage in the production process is ____________

A. Consumption
B. Manufacturing
C. Retailing
D. Warehousing
E. Wholesaling

Question 328:

• NECO 2007

The department responsible for recruitment and promotion of staff is ____________

A. Finance
B. Legal
C. Personnel
D. Production
E. Purchases

Question 329:

• NECO 2007

A document that is sent by the seller to the buyer to indicate an increase in the annual owes is ____________

A. Credit note
B. Debit note
C. Invoice
D. Letter of credit
E. Receipt

Question 330:

• NECO 2007

An example of a secured loan is ____________

A. Backdraft
B. Co-operative loan
C. Mortgage
D. Overdraft
E. Trade credit