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Commerce Past Questions and Answers

Neco Commerce Questions

Question 116:
What is NOT an essential element of a valid contract?
  • A Acceptance
  • B Compensation
  • C Consideration
  • D Legality
  • E Offer
View Answer & Explanation
Question 117:
Another name for exchange of goods or other goods is called ____________
  • A Barter
  • B Buying
  • C Credit
  • D Selling
  • E Specialization
View Answer & Explanation
Question 118:
The different types of occupation in which people are engaged can be grouped as ____________
  • A Direct Services, Commercial and industrial
  • B Manufacturer, Blacksmith and Industrial
  • C Industrial, Manufacturing and Commercial
  • D Teaching, Manufacturing and Commercial
  • E Trading, Teaching and Commercial
View Answer & Explanation
Question 119:
Which business unit has a membership range of 2-50?
  • A Cooperative Society
  • B Partnership
  • C Private Limited Company
  • D Public Enterprise
  • E Public Limited Company
View Answer & Explanation
Question 120:
What covers the risk which an employer may suffer as a result of the dishonesty of an employee?
  • A Accident insurance
  • B Export credit insurance
  • C Fidelity guarantee insurance
  • D Fire insurance
  • E Life assurance
View Answer & Explanation