NECO SSCE - Commerce - 2005

Commerce is often referred to as the life blood of every nation because it

A dealer who buys securities at low prices in anticipation of reselling them at higher prices is called a

The term “consumer sovereignty” means that the consumer is a

One of the easiest means of transporting petroleum product is by

The association that encourages savings for the benefit of its members is known as

A public limited company is regarded as a legal entity because

A type of partnership in which all partners have unlimited liability and jointly manage the business is known as ……. partnership.

A typical example of an event covered by an Assurance Policy is

A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling fora commission proportionate to the value of the transaction is called a

The Nigeria Enterprises promotion Decree brought about policy

The aid to trade which enables producer and consumer to transact business without physical contact is known as

The following are functions of marketing EXCEPT

Tariff can be defined as a compulsory levy on

Which of the following services is NOT rendered by NITEL?

Which of the following advertising media preselects its readership through the nature of its content?

Branding is the assigning of trade marks to goods for the purpose of ……….. by the public.

Who among the following engages in extractive activities?

The components of a balance of payments account are

Transfer of ownership of goods sold under Hire Purchase System takes place when _____ paid.

Which of these is NOT a governments legislation to protect thee consumer?

Gross profit can be calculated as

The activities concerned with changing of raw materials into finished products belong to ______ occupation

Stock exchange quoted the shares of ABC Plc at N0.75K for N1.25K per share. This means the shares were sold at a

Which type of advertisement induces consumer to purchase the goods he does not need?

The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is

Which of the following does NOT belong to the group?

The functions of public corporations include the following EXCEPT

The term “caveat emptor” implies that

In the event of winding up of a company, who among the following is paid last?

The most important document an importer requires to be able to clear his goods from the harbour is

Which of these means of payment originates from a creditor?

Departmental store, supermarket and chain store are examples of

Which of the following types of insurance is usually excluded from the principle of indemnity?

Which of the following is NOT a component of trade?

The principle of insurance which ensures that an individual is restored to his former position after suffering a loss is

An agent held responsible for non-payment of goods bought by the customer he introduced to his principal is called …… agent

A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a

Which of the following forms part of a company’s Article of Association?

The coming together of two or more firms with each of them losing its identity is known as

The document which gives complete information about the goods sold is the

The most common form of business unit in West Africa is

Which of the following is NOT a credit instrument?

The rules and regulations guiding the conduct of business transactions are known as ……. law

Association of people in the same line of business is known as

The document that spells out the relationship of a company with the outside world is known as

The act of being on one job for expertise is called

The following are advantages of division of labour specialization EXCEPT that it

Which of the following groupings is a means of payments through the post office

Use the information below to answer this question.

Aisha sold her wristwatch to Halima for N2,000.00 and she paid

The sum of N2,000.00 is the

Bonded warehouse is controlled and supervised by