NECO Commerce Past Questions & Answers - Page 32

156.

The value of money is measured by the

A.

amount of goods and services a unit of it can purchase

B.

amount of its unit people can hold

C.

ease at which people can spend a unit of it

D.

quantity of it in circulation

E.

rate of national development

Correct answer is A

No explanation has been provided for this answer.

157.

The right to retain possession of property of another until certain legitimate demands are satisfied is known as

A.

agency

B.

copyright

C.

guarantee

D.

lien

E.

patent

Correct answer is D

No explanation has been provided for this answer.

158.

Who among the following assess goods on arrival at a port?

A.

Agent

B.

Customs

C.

Importer

D.

Shipping company

E.

Ship owner

Correct answer is B

No explanation has been provided for this answer.

159.

The prospectus of a company must include

A.

names and addresses of management staff

B.

the certificate of incorporation

C.

the directors remuneration

D.

the value of annual dividend

E.

types of shares available and their cost

Correct answer is B

No explanation has been provided for this answer.

160.

Business transactions are usually based upon agreements known as

A.

confidence

B.

contract

C.

good-will

D.

proposal

E.

understanding

Correct answer is B

No explanation has been provided for this answer.