NECO Commerce Past Questions & Answers - Page 56

276.

A document which must be prepared and produced by the promoters of a company and contains ‘external rules’ is called

A.

Article of Association

B.

Companies’ Act

C.

Memorandum of Association

D.

Deed

E.

Prospectus

Correct answer is C

No explanation has been provided for this answer.

277.

A situation where a consumer's need is the focus of attention is regarded as

A.

consumer orientation

B.

marketing concept

C.

market research

D.

market segmentation

E.

sales orientation

Correct answer is B

No explanation has been provided for this answer.

278.

A common legal association which exists when one party, known as the principal authorizes another party to enter into contract is called

A.

agency

B.

contract agreement

C.

legal relation

D.

offer and acceptance

E.

valid contract

Correct answer is E

No explanation has been provided for this answer.

279.

Marketing mix consists of

A.

place, planning, play and price

B.

planning, controlling and organizing

C.

product, place, price and promotion

D.

promotion, play, planning and priceprice, planning, promotion and price

Correct answer is C

No explanation has been provided for this answer.

280.

Bonded warehouses are controlled by

A.

clearing and forwarding agents

B.

custom and excise

C.

export promotion council

D.

marketing boards

E.

port authority

Correct answer is B

No explanation has been provided for this answer.