NECO Past Questions and Answers - Page 54

266.

What is defined as an agreement to pay an initial deposit for an object and then pay the balance in regular instalments while having the use of the object”?

A.

conditional sales

B.

credit sales

C.

hire purchase

D.

leasing

E.

trade-in sales

Correct answer is C

No explanation has been provided for this answer.

267.

Aids to trade refers to

A.

advertising, insurance, export and import

B.

advertising, transport, banking, insurance and warehousing

C.

banking, insurance and import only

D.

insurance, trade, banking and retailer

E.

trade, export, transport, advertising and import

Correct answer is B

No explanation has been provided for this answer.

268.

Which is the banker of all commercial banks in the country?

A.

Central Bank of Nigeria

B.

Federal Mortgage Bank of Nigeria

C.

Nigerian Bank for Commerce and industry

D.

National Bank of Nigeria

E.

Nigeria Industrial Development Bank

Correct answer is A

No explanation has been provided for this answer.

269.

Gases are best transported by

A.

air

B.

canals

C.

pipelines

D.

rail

E.

sea

Correct answer is C

No explanation has been provided for this answer.

270.

A business activity that directs the flow of goods and services from the producer to the consumer is called

A.

advertising

B.

communication

C.

insurance

D.

marketing

E.

personal selling

Correct answer is D

No explanation has been provided for this answer.