NECO Past Questions and Answers - Page 18

86.

An example of a secured loan is

A.

backdraft

B.

co-operative loan

C.

mortgage

D.

overdraft

E.

trade credit

Correct answer is C

No explanation has been provided for this answer.

87.

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

Correct answer is B

No explanation has been provided for this answer.

88.

The department responsible for recruitment and promotion of staff is

A.

finance

B.

legal

C.

personnel

D.

production

E.

purchases

Correct answer is C

No explanation has been provided for this answer.

89.

The final stage in the production process is

A.

consumption

B.

manufacturing

C.

retailing

D.

warehousing

E.

wholesaling

Correct answer is A

No explanation has been provided for this answer.

90.

Who among the following engages in extractive activities?

A.

Flour miller

B.

Fisherman

C.

Porter

D.

Singer

E.

Surgeon

Correct answer is B

No explanation has been provided for this answer.