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Commerce Past Questions and Answers

Neco Commerce Questions

Question 61:
NECO 2001
The term ‘caveat emptor’ means ‘let the ____________
SchoolNGR Classroom
  • A Account be settled’
  • B Buyer beware’
  • C Debtor be careful’
  • D Manufacturer beware'
  • E Seller beware'
View Answer & Explanation
Question 62:
NECO 2001
What is NOT a lecture of a co-operative society?
SchoolNGR Classroom
  • A Banks easily lend money to them
  • B It is a corporate body with a right to sue and be sued
  • C Members have to buy shares to form the initial capital
  • D Members have equal opportunity in the control of the society
  • E There is no liability after shareholding is fully paid
View Answer & Explanation
Question 63:
NECO 2001
lf the price of a good falls and the demand for that good also fall, then that good is ____________
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  • A A normal good
  • B An inferior good
  • C A supper good
  • D An expensive good
  • E None
View Answer & Explanation
Question 64:
NECO 2001
What is NOT a supplementary service of banks?
SchoolNGR Classroom
  • A Agents for payment
  • B Custody of valuables
  • C Dealing in foreign exchange
  • D Investments
  • E Referees
View Answer & Explanation
Question 65:
NECO 2001
What is NOT an instrument of credit?
SchoolNGR Classroom
  • A Bills of exchange
  • B Cheque
  • C Money order
  • D Postal order
  • E Source document
View Answer & Explanation

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