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Commerce 2000 NECO Past Questions

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11
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
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12
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
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13

All the following are principles of insurance EXCEPT

  • A. indemnity
  • B. insurable interest
  • C. particular average
  • D. subrogation
  • E. utmost good faith
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14
A person who runs a business on his own account is called a
  • A. creditor
  • B. customer
  • C. director
  • D. partner
  • E. sole trader
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15
The first Nigerian enterprises promotion decree was promulgated in
  • A. 1972
  • B. 1973
  • C. 1974
  • D. 1977
  • E. 1980
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