NECO 2018 EXPO Commerce Objective & Essay Questions And Answers

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NECO 2018 EXPO Commerce Questions And Answers

For all intent and purposes these are correct verified trial questions and answers that are likely to come out, we do not promote any form of examination malpractice. Invite all your friends to Schoolnews.ng for all exam.

board of directors is a recognized group of people who jointly oversee the activities of an organization, which can be either a for-profit business, nonprofit organization, or a government agency.
2ii)
company secretary is a senior position in a private sector company or public sector organisation.
2iii)
Managing Director  is the most senior role in any company. With ultimate responsibility for the company’s performance the Managing Director will report in to the Chairman and shareholders whilst leading a Board of Directors.
2iv)
chief accountant, often taking on the title of CFO, or Chief Financial Officer, serves as an advisor, educator and consultant on all financial matter affecting the company.
2v)
director of personnel is responsible for all activities related to hiring and firing employees of the city. In other words is ultimately responsible for development, revision and implementation of those policies

1. Existence of business:
The objective of partnership must be to do some type of business. Business here means any activity leading to earn profit persons joining together and agreed to do charitable work or for formation of any club for entertainment would not be treated as partnership due to absence of the business.

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2. Numbers of persons:
There must be at least two or more persons to form a partnership firm. As per Indian partnership Act, the minimum number of person required is to buy it does not prescribe the maximum limit for the purpose.

3. Sharing of Profits:
Business is carried on to share profit and not to incur losses. The profits generated by the firm are to bestaned among the partners on an agreeable proportion. Loss it any has also to be borne by them on that ratio.

4. Agency:
Partnership contract is based on principle of agency. Each partner is an agent of other partners. The business is carried on by all or any one of them acting on behalf of all other partners.

5. Unlimited liability:
Like sole proprietorsh……

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