NECO Commerce Past Questions & Answers - Page 67

331.

The Articles of Association of a company do NOT contain

A.

a method of dealing with any alterations in the amount of capital

B.

a method of sharing profits and the payment of dividends

C.

a procedure for calling general meeting/method of voting

D.

the amount of the authorized capital, showing its division into shares

E.

the issue, transfer and forfeiture of shares

Correct answer is A

No explanation has been provided for this answer.

332.

The feature of a supermarket is

A.

having central control from head-office

B.

sales common household goods

C.

sales of goods without owning shops

D.

similarity in shops’ frontages

E.

that there are many shops under a roof

Correct answer is B

No explanation has been provided for this answer.

333.

The bringing of ownership and management of a former private industry under the control of the government is called

A.

corporation

B.

industrialization

C.

nationalization

D.

participation

E.

privatization

Correct answer is C

No explanation has been provided for this answer.

334.

Ships that pick up cargo from any port and travels anytime are called

A.

cargo ships

B.

ferries

C.

steamers

D.

tankers

E.

tramps

Correct answer is E

No explanation has been provided for this answer.

335.

What is the cost of goods sold?

A.

N 2220

B.

N 2500

C.

N 2800

D.

N 4000

E.

N 4300

Correct answer is C

No explanation has been provided for this answer.