NECO Commerce Past Questions & Answers - Page 71

351.

The policy designed to accelerate the greater participation of Nigerians in the ownership and management of business enterprises in Nigeria is called

A.

commercialization

B.

indigenity

C.

industrialization

D.

nationalis-ation

E.

privatization

Correct answer is E

No explanation has been provided for this answer.

352.

Which area of law is NOT related to business?

A.

agency

B.

contract

C.

hire purchase

D.

possession

E.

sale of goods

Correct answer is D

No explanation has been provided for this answer.

353.

Which of the following does a seller send in reply to a letter of inquiry?

A.

advice note

B.

credit note

C.

debit note

D.

delivery note

E.

quotation

Correct answer is E

No explanation has been provided for this answer.

354.

The rights of the consumers does NOT include

A.

the right to be informed

B.

the right to choose

C.

the right to fix prices

D.

the right to a healthy environment

E.

the right to safety

Correct answer is C

No explanation has been provided for this answer.

355.

The main objective of nationalization of industries is to

A.

bring an Industry under state ownership and control

B.

Make more profit for the government

C.

prevent all aliens from taking part in the business activities of a country

D.

prevent existing firms from liquidation

E.

provide sources for additional capital for government

Correct answer is A

No explanation has been provided for this answer.