NECO Commerce Past Questions & Answers - Page 18

86.

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.

87.

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.

88.

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.

89.

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.

90.

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.