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2786
What is a statement of account? It is a/an
  • A. note to inform the customer of an addition to his business transaction
  • B. original letter sent to customer asking them to settle their bills
  • C. statement of acceptance of credit facilities to a customer
  • D. summary of customer’s transactions for a given period
  • E. summation of goods sold to a customer for a particular item
View Answer & Discuss NECO 2001
2787
A syndicate is an/a
  • A. association formed by the joining together of firms which were previously independent
  • B. association of firms at the same stage of production, formed for the purpose of keeping up prices
  • C. association of firms for the regulation of output and prices
  • D. combination of firm which carry on the same kind of business such as retailing
  • E. company that controls one or more other companies by holding majority of their shares
View Answer & Discuss NECO 2001
2788
When one party to a contract refuses to perform the obligations assumed under the contract, there is
  • A. breach of contract
  • B. frustration
  • C. operational law
  • D. performance
  • E. voluntary agreement of the parties
View Answer & Discuss NECO 2002
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2789
Which holder receives interest?
  • A. cumulative preference
  • B. debenture
  • C. non-cumulative
  • D. ordinary share
  • E. preference shares
View Answer & Discuss NECO 2002
2790
The process by which the government takes over private business is known as
  • A. commercialization
  • B. indigenization
  • C. nationalization
  • D. naturalization
  • E. privatization
View Answer & Discuss NECO 2002
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