NECO Past Questions and Answers - Page 17

81.

Which of the following relies on subvention as the main source of capital?

A.

Cooperative society

B.

Partnership

C.

Public corporation

D.

Public limited company

E.

Sole trader

Correct answer is C

No explanation has been provided for this answer.

82.

The principle of insurance that prevents the insured from benefiting in an event where he suffers no material or financial loss is

A.

Indemnity

B.

insurable

C.

proximate cause

D.

subrogation

E.

utmost good faith

Correct answer is C

No explanation has been provided for this answer.

83.

Which of the following is an objective of regional economic grouping?

A.

For easy religious interactions

B.

For single political governance

C.

For stable political governance

D.

To encourage free flow of trade among members

E.

To harmonize the culture of member countries

Correct answer is D

No explanation has been provided for this answer.

84.

The building of schools and hospitals for communities by some oil companies in Niger Delta of Nigeria is an example of

A.

business diversification

B.

business integration

C.

consumer protection

D.

discharge of social responsibility

E.

indigenization

Correct answer is D

No explanation has been provided for this answer.

85.

When a cheque has R/D written on it, it means that the cheque

A.

has been dishonoured

B.

has been honoured

C.

has been paid into the drawer's account

D.

has not been signed

E.

is wrongly worded

Correct answer is A

No explanation has been provided for this answer.