NECO Commerce Past Questions & Answers - Page 28

136.

The most important document an importer requires to be able to clear his goods from the harbour is

A.

bill of exchange

B.

bill of lading

C.

bill of sale

D.

invoice from the shopper

E.

marine insurance

Correct answer is B

No explanation has been provided for this answer.

137.

Association of people in the same line of business is known as

A.

chambers of commerce

B.

holding company

C.

monopolistic association

D.

producers association

E.

trade association

Correct answer is E

No explanation has been provided for this answer.

138.

Bonded warehouse is controlled and supervised by

A.

customs

B.

immigration

C.

navy

D.

police

E.

quarantine

Correct answer is A

No explanation has been provided for this answer.

139.

Tariff can be defined as a compulsory levy on

A.

foreign exchange earnings

B.

foreigners working in Nigeria

C.

imported goods only

D.

import and export

E.

substitutes and inferior goods

Correct answer is C

No explanation has been provided for this answer.

140.

Use the information below to answer this question.

Aisha sold her wristwatch to Halima for N2,000.00 and she paid

The sum of N2,000.00 is the

A.

consideration

B.

entitlement

C.

fees

D.

money

E.

offer

Correct answer is C

No explanation has been provided for this answer.