NECO Commerce Past Questions & Answers - Page 74

366.

A multiple shop has many stores which sell

A.

graded goods

B.

locally produced goods

C.

manufactured goods

D.

persihable goods

E.

similar goods

Correct answer is E

No explanation has been provided for this answer.

367.

The first Nigerian enterprises promotion decree was promulgated in

A.

1972

B.

1973

C.

1974

D.

1977

E.

1980

Correct answer is A

No explanation has been provided for this answer.

368.

A person who runs a business on his own account is called a

A.

creditor

B.

customer

C.

director

D.

partner

E.

sole trader

Correct answer is E

No explanation has been provided for this answer.

369.

The deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of

A.

an actual total loss

B.

a constructive total loss

C.

a general average loss,

D.

a partial loss

E.

a total loss

Correct answer is B

No explanation has been provided for this answer.

370.

Obi received a cheque for N1000 from Mr. Ade and this cheque was stolen. He must

A.

inform his bank to stop payment

B.

inform Mr. Ade to tell his bank to stop payment

C.

simply ask Mr. Ade for another cheque

D.

tell his bank to add the amount to his bank balance

E.

wait until the cheque is found

Correct answer is B

No explanation has been provided for this answer.