Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
Which is NOT the right of the consumer according to the Consumer Education and Protection Council? The right to
Abe informed
Bbuy whatever they want
Cchoose
Dhealthy environment
Esafety
View Explanation & Discuss
Question 144
neco2002
The greatest weapon of the buyer against the activities of false advertisers is
Aconsumer education
Bmanufacturer's education
Cmarketing education
Dproducer‘s education
Esalesmanship
View Explanation & Discuss
Question 145
neco2002
The main reason for Government ownership of a public enterprise is to provide
Aeducation and electricity
Belectricity only
Cessential services
Dloans for the people
Eroads and electricity
View Explanation & Discuss
Question 146
neco2002
Reorganization of public enterprises to run as profit-making ventures is called
Acommercialization
Bindigenization
Cindustrialization
Dnationalization
Eprivatization
View Explanation & Discuss
Question 147
neco2002
The process by which the government takes over private business is known as
Acommercialization
Bindigenization
Cnationalization
Dnaturalization
Eprivatization
View Explanation & Discuss
Question 148
neco2002
Which holder receives interest?
Acumulative preference
Bdebenture
Cnon-cumulative
Dordinary share
Epreference shares
View Explanation & Discuss
Question 149
neco2002
When one party to a contract refuses to perform the obligations assumed under the contract, there is
Abreach of contract
Bfrustration
Coperational law
Dperformance
Evoluntary agreement of the parties
View Explanation & Discuss
Question 150
neco2001
A syndicate is an/a
Aassociation formed by the joining together of firms which were previously independent
Bassociation of firms at the same stage of production, formed for the purpose of keeping up prices
Cassociation of firms for the regulation of output and prices
Dcombination of firm which carry on the same kind of business such as retailing
Ecompany that controls one or more other companies by holding majority of their shares
View Explanation & Discuss
Question 151
neco2001
What is a statement of account? It is a/an
Anote to inform the customer of an addition to his business transaction
Boriginal letter sent to customer asking them to settle their bills
Cstatement of acceptance of credit facilities to a customer
Dsummary of customer’s transactions for a given period
Esummation of goods sold to a customer for a particular item
View Explanation & Discuss
Question 152
neco2001
What best explains the principle of subrogation in insurable?
ABoth parties of the insurance contract must deal openly and honestly with each other and disclose all relevant facts
BThe right that a person has to stand in the place of another and enjoy all the rights and remedies of that other person
CThere must be a close connection between the risk insured against and the cause of the loss
DThe insurer who insures the same risk with more than one insurer can only recover to the extent of the loss and nothing more, in the occurrence of the event
EThe insured discloses all the material facts which would affect the premium which the insurer charges
View Explanation & Discuss
Question 153
neco2001
.......... is NOT a principle of insurance
Autmost good faith
Bparticular average
Cindemnity
Dsubrogation
Einsurable interest
View Explanation & Discuss
Question 154
neco2001
The reward of capital as a factor of production is
Adividend
Binterest
Cprofit
Drent
Ewages
View Explanation & Discuss
Question 155
neco2001
ln partnership business, the maximum number of persons for its formation is
Afive
Bfifteen
Cten
Dtwenty
Etwenty five
View Explanation & Discuss
Question 156
neco2001
What is NOT an instrument of credit?
Abills of exchange
Bcheque
Cmoney order
Dpostal order
Esource document
View Explanation & Discuss
Question 157
neco2001
What is NOT a supplementary service of banks?
Aagents for payment
Bcustody of valuables
Cdealing in foreign exchange
Dinvestments
Ereferees
View Explanation & Discuss
Question 158
neco2001
lf the price of a good falls and the demand for that good also fall, then that good is .......
Aa normal good
Ban inferior good
Ca supper good
Dan expensive good
Enone
View Explanation & Discuss
Question 159
neco2001
What is NOT a lecture of a co-operative society?
Abanks easily lend money to them
Bit is a corporate body with a right to sue and be sued
Cmembers have to buy shares to form the initial capital
Dmembers have equal opportunity in the control of the society
Ethere is no liability after shareholding is fully paid
