NECO Past Questions and Answers - Page 35

171.

A receipt is a/an

A.

acknowledgement of money received

B.

credit instrument

C.

list of goods received

D.

list of goods to be supplied

E.

order for the goods to be purchased

Correct answer is A

No explanation has been provided for this answer.

172.

All these are instruments of consumer protection EXCEPT

A.

Bill of Exchange Act of 1882

B.

Food and Drug Department of Ministry Health

C.

Sale of Goods Act of 1979

D.

Standard Organization of Nigeria

E.

Trade Description Act of 1968

Correct answer is A

No explanation has been provided for this answer.

173.

At an auction sale, an auctioneer acts as a/an..........

A.

agent

B.

attorney

C.

broker

D.

principal

E.

representative

Correct answer is A

No explanation has been provided for this answer.

174.

Profit in partnership is shared according to

A.

agreement in the deed

B.

amount contributed by each partner

C.

number of hours put in by each partner

D.

seniority of partner

E.

types of partners

Correct answer is A

No explanation has been provided for this answer.

175.

All are aids to Trade EXCEPT

A.

advertising

B.

banking

C.

retailing

D.

transportation

E.

warehousing

Correct answer is C

No explanation has been provided for this answer.