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Commerce 2002 NECO Past Questions

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11
A common legal association which exists when one party, known as the principal authorizes another party to enter into contract is called
  • A. agency
  • B. contract agreement
  • C. legal relation
  • D. offer and acceptance
  • E. valid contract
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12
A situation where a consumer's need is the focus of attention is regarded as
  • A. consumer orientation
  • B. marketing concept
  • C. market research
  • D. market segmentation
  • E. sales orientation
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13
A document which must be prepared and produced by the promoters of a company and contains ‘external rules’ is called
  • A. Article of Association
  • B. Companies’ Act
  • C. Memorandum of Association
  • D. Deed
  • E. Prospectus
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14
A bank overdraft can only be granted to the holder of a
  • A. current account
  • B. deposit account
  • C. fixed deposit
  • D. savings account
  • E. time deposit
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15
Abubakar wants to sell his shares on the Kano Stock Exchange. Which service would he employ?
  • A. auctioneer
  • B. chamber of commerce
  • C. del-credere agent
  • D. insurance agent
  • E. stock broker
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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