NECO Commerce Past Questions & Answers - Page 63

311.

Which union is formed by the workers of firms of similar line of business to cater for their interests?

A.

co-operative

B.

employees

C.

firms

D.

trade

E.

welfare

Correct answer is D

No explanation has been provided for this answer.

312.

What is NOT an advantage of indigenization?

A.

lt enhances the development of private initiative

B.

lt ensures that important social services are provided at affordable cost

C.

lt ensures that Nigerians control and run the business enter-prize of their country

D.

It fosters and accelerates the pace of industrial development

E.

There is a saving in foreign exchange

Correct answer is B

No explanation has been provided for this answer.

313.

Which of NOT a class of preference shares?

A.

cumulative

B.

debenture

C.

non-cumulative

D.

participating

E.

redeemable

Correct answer is B

No explanation has been provided for this answer.

314.

ln which business is profit shared amongst the shareholders on the basis of patronage?

A.

co-operative society

B.

joint stock company

C.

partnership

D.

public company

E.

sole proprietorship

Correct answer is A

No explanation has been provided for this answer.

315.

The affairs of the co-operative society are in the hands of the

A.

Board of directors

B.

Board of trustees

C.

Executive members

D.

Registrar of Co-operatives

E.

Shareholders

Correct answer is C

No explanation has been provided for this answer.