NECO SSCE - Commerce - 2002

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

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

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

Aids to trade refers to

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

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

The fastest and most accurate means of passing information is

Which holder receives interest?

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

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

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

Gases are best transported by

What is NOT an essential element of a valid contract?

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”?

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

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

Grouping consumers based on their purchasing habits is called market

What is NOT a function of marketing?

What is a characteristic of a public limited company?

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

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

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

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

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

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

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

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

Marketing mix consists of

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

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

Another name for exchange of goods or other goods is called

The best definition of Communication in Commerce is

What is the main aim and objective of ECOWAS?

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

Which comes first in the channel of distribution?

An already existing line of product is advertised in order to

Who has no right of ownership to a business organization?

Bonded warehouses are controlled by

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

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

Which is a Public Monopoly?

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

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

Which feature of money facilitates small transactions?

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

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

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

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

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

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