NECO Commerce Past Questions & Answers - Page 73

361.

A public limited liability company is owned by

A.

board of directors

B.

debenture holders

C.

general public

D.

government

E.

shareholders

Correct answer is E

No explanation has been provided for this answer.

362.

A bill of exchange sold for less than its face value before maturity is said to be

A.

accepted

B.

cleared

C.

discounted

D.

dishonored

E.

protested

Correct answer is C

No explanation has been provided for this answer.

363.

The body charged with the responsibility monitoring the quality of goods supplied is the

A.

consumers’ association

B.

chamber of commerce

C.

manufacturers' association

D.

Ministry of Health

E.

Nigerian standards organization

Correct answer is E

No explanation has been provided for this answer.

364.

A contract in which all parties to the contract have carried out their obligation is said to be terminated by

A.

breach of contract

B.

frustration

C.

operation of the law

D.

performance

E.

voluntary agreement

Correct answer is D

No explanation has been provided for this answer.

365.

Shares are said to be sold at a discount when they are sold

A.

above par

B.

at par

C.

below par

D.

to the public

E.

to the shareholders

Correct answer is B

No explanation has been provided for this answer.