NECO SSCE - Commerce - 2004

The right to retain possession of property of another until certain legitimate demands are satisfied is known as

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An industry whose major actors consists of those engaged in sourcing raw materials from the earth surface is known as .... industry.

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Who among the following assess goods on arrival at a port?

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Kate insured her fancy store for losses arising from burglary. The store was later burnt down. Which insurance principle denied her compensation?

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A credit note is used to

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Which of the following documents shows a summary of a complete sale which the supplier sends to the buyer?

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The concept that the satisfaction of the consumer's wants is to be emphasized at all stages of production and distribution is known as consumer...........

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The creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them is known as

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Business transactions are usually based upon agreements known as

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The term “enterprise” denotes the ability to

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Which of the following is NOT a function of the central bank?

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The insurance policy that specifically covers damage to structure or machinery of a ship is known as.......insurance.

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A business person who contracts to sell shares in the expectation of a fall in price is a

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Under utmost good faith as an insurance principle, a person must

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A receipt is a/an

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The drawer of a cheque is usually the

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The last link in the chain of distribution is the

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Short-term loan to expand a business is provided by

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Department stores are usually located in

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Which of the following is NOT part of the documents to be submitted for the registration of companies?

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One way of restricting the quantity of goods which may be imported into a country is by

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Trade may be defined as

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A voluntary body formed by members of a particular branch of trade or industry to represent interest of members is known as

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When manufacturers sell directly to consumers they have eliminated

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A 'duty bill' is used to indicate whether the goods arriving a port are........

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In a private limited liability company shares can be transferred

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Which of the following is a non-insurable risk

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In limited liability company, the liability of a member at the time of liquidation is limited to the amount of shares.

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The major divisions of commerce are

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Profit in partnership is shared according to

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At an auction sale, an auctioneer acts as a/an..........

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All these are instruments of consumer protection EXCEPT

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The organisation of petroleum exporting countries (OPEC) is an example of a/n......

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Equity of a company is another name for....... shares.

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The excess value of all the assets of a business over the value of its liabilities is called

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The prospectus of a company must include

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Credit in business transaction is a. ......

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Brand name is used to

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Goods are given utility by

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The full amount of capital which a company is authorized to raise is stated in the

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The services offered by the following people .could be grouped under direct services. EXCEPT

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All are aids to Trade EXCEPT

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The value of money is measured by the

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Which of the following is NOT an importance of warehousing?

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In international trade, ...... is used to show the exact country where the goods are imported.

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Which of the following best describes span of control

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A bill of lading is best described as the

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