NECO SSCE - Commerce - 2002

What is a voluntary association of business executives, tradesmen, or entrepreneurs?

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Which is a Public Monopoly?

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Which insurance principle indicates that only the person who might suffer financial loss will be allowed to take out insurance?

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When one party to a contract refuses to perform the obligations assumed under the contract, there is

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What is the main aim and objective of ECOWAS?

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What is NOT a function of marketing?

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Bonded warehouses are controlled by

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The best definition of Communication in Commerce is

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The greatest weapon of the buyer against the activities of false advertisers is

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A business activity that directs the flow of goods and services from the producer to the consumer is called

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What is defined as an agreement to pay an initial deposit for an object and then pay the balance in regular instalments while having the use of the object”?

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ln the selection of means of transport, speed is an important consideration for goods that are

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Which is the banker of all commercial banks in the country?

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What is the fastest means of sending documents from one place to another

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The different types of occupation in which people are engaged can be grouped as

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The main reason for Government ownership of a public enterprise is to provide

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Aids to trade refers to

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Marketing mix consists of

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Which feature of money facilitates small transactions?

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A statement of the current price and terms of trade of a product or service is called

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Which holder receives interest?

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Which business unit has a membership range of 2-50?

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A bank overdraft can only be granted to the holder of a

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Who has no right of ownership to a business organization?

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What is a characteristic of a public limited company?

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Another name for exchange of goods or other goods is called

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A document which must be prepared and produced by the promoters of a company and contains ‘external rules’ is called

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What is NOT an essential element of a valid contract?

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The fastest and most accurate means of passing information is

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The document usually sent to each customer by the bank periodically showing the balance outstanding in an account is known as

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The process by which the government takes over private business is known as

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Abubakar wants to sell his shares on the Kano Stock Exchange. Which service would he employ?

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Gases are best transported by

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A common legal association which exists when one party, known as the principal authorizes another party to enter into contract is called

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Goods invoiced at N5,000.00 were sold to Adegoke at less 2½% trade discount. How much would he pay

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A businessman started with N100,000 and spent N80,000 in buying premises and equipment. The balance of N20,000 is his

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Which document is used to advertise shares to the general public?

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Grouping consumers based on their purchasing habits is called market

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An already existing line of product is advertised in order to

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Assets of a business which can easily be changed into cash are called

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The reputation and good image benefits arising from the business connections of a firm are called

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Assets of a business which can easily be changed into cash are called

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Reorganization of public enterprises to run as profit-making ventures is called

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Goods that are not useful by themselves, but help in the production of other desired goods are called ....... goods.

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Which comes first in the channel of distribution?

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The factor of production which involves both the mental and physical effort of man is called

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The compensation made to an insured for loss incurred in insurance is called

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A situation where a consumer's need is the focus of attention is regarded as

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Which is NOT the right of the consumer according to the Consumer Education and Protection Council? The right to

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What covers the risk which an employer may suffer as a result of the dishonesty of an employee?

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