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Commerce Past Questions and Answers

Neco Commerce Questions

Question 281:
Association of people in the same line of business is known as ____________
  • A Chambers of commerce
  • B Holding company
  • C Monopolistic association
  • D Producers association
  • E Trade association
View Answer & Explanation
Question 282:
The most important document an importer requires to be able to clear his goods from the harbour is ____________
  • A Bill of exchange
  • B Bill of lading
  • C Bill of sale
  • D Invoice from the shopper
  • E Marine insurance
View Answer & Explanation
Question 283:
The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is ____________
  • A Advice note
  • B Credit note
  • C Debt note
  • D Invoice
  • E Pro-forma invoice
View Answer & Explanation
Question 284:
The components of a balance of payments account are ____________
  • A Capital, current and fixed deposit
  • B Capital, savings and fixed deposit
  • C Current, capital and monetary movement
  • D Current, savings and monetary movement
  • E Current, savings and fixed deposit
View Answer & Explanation
Question 285:
A typical example of an event covered by an Assurance Policy is ____________
  • A Accident
  • B Burglary
  • C Death
  • D Fire
  • E Theft
View Answer & Explanation