NECO Commerce Past Questions & Answers - Page 25

121.

A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling fora commission proportionate to the value of the transaction is called a

A.

broker

B.

commissioned agent

C.

del-credere agent

D.

factor

E.

speculator

Correct answer is C

No explanation has been provided for this answer.

122.

The document which gives complete information about the goods sold is the

A.

bill of exchange

B.

delivery note

C.

invoice

D.

order form

E.

quotation

Correct answer is C

No explanation has been provided for this answer.

123.

Which type of advertisement induces consumer to purchase the goods he does not need?

A.

Competitive

B.

Descriptive

C.

Informative

D.

Persuasive

E.

Specific

Correct answer is D

No explanation has been provided for this answer.

124.

Which of the following groupings is a means of payments through the post office

A.

Bank draft, Certified cheque, Money order and Stamps

B.

Cheque, Postal order, Money order and Bank draft

C.

Money order, Certified cheques, Telegraphic Money order and Stamps

D.

Postal order, Money order, Telegraphic Money order and Stamps

E.

Telegraphic Money order, Cheques, Bank draft and Certified cheques

Correct answer is D

No explanation has been provided for this answer.

125.

A type of partnership in which all partners have unlimited liability and jointly manage the business is known as ……. partnership.

A.

Limited

B.

nominal

C.

ordinary

D.

special

E.

unlimited

Correct answer is E

No explanation has been provided for this answer.