NECO SSCE - Commerce - 2007

Use the following information to answer question

Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
Cost of goods sold is

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Income distribution, nature of natural resources, investment etc. forms part of -----business environment.

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An example of a secured loan is

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Which of the following is NOT true of a cheque as a means of payment? It

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The authority that transfers to a third party the shard right to vote is called

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The building of schools and hospitals for communities by some oil companies in Niger Delta of Nigeria is an example of

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Which of the following is NOT a function of Commerce?

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Coal mining is an example of

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The payment made by government to producers to enable them reduce price is known as

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Use the following information to answer question

Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
Kolawole’s average stock is?

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The amount receivable by shareholders after the declaration of profit is called

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A disadvantage of commercialization of public enterprises in Nigeria is that it

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An arrangement in insurance which provides for the payment of a stipulated sum either at death or the expiration of a stated period is known as ……….

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The principle of insurance that prevents the insured from benefiting in an event where he suffers no material or financial loss is

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Shares, stocks, government bonds trade in the stock exchange marks: are known as

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The final stage in the production process is

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When the supplier changes a retailer for not returning empty packages, the supplier sends him a/an

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In which order are the following documents used?

I. Enquiry
II. Delivery note
III. Order
IV. Invoice
V. Quotation

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Another name for a foreign order is

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“Be a millionaire” a slogan adopted by one of them G.S.M providers is an example of

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The department responsible for recruitment and promotion of staff is

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Which of the following relies on subvention as the main source of capital?

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The fee for sending a telegram depends on the

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The process of passing information from one person to another in an organization is known as

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Which of the following is NOT true of a cheque as a means of payment? It

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Which of the following is an objective of regional economic grouping?

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Which of the following is an invisible item of trade?

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The reply to a letter of inquiry is a/an

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A document that is sent by the seller to the buyer to indicate an increase in the annual owes is

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Which of the following regards the consumer as king?

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A financial document stating the reasons for making a payment and details of the payment is

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Adeleke places his vehicle for sale at N150,000,00 Ibrahim had agreed to pay the amount. In this Trans: Adeleke is the

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The actual amount of share capital a company is allowed to issue to the public is the ---- capital

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Shares that are fully paid can be converted into bulks known as

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Telecommunication services are provided by

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A marketing term the for the presentation of goods in a neatly wrapped container is

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The combination of product, price,

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The most suitable mode of transport for conveying gas and liquid within Nigeria is

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The losses incurred in the running of Public Corporations are borne by the

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When a cheque has R/D written on it, it means that the cheque

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The most suitable mode of transporting very bulky goods from Lagos to Kaduna is the

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An example of service rendering trade association is

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The practice of selling some goods below market price to attract more customers is known as

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Use the following information to answer question

Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
The rate of stock turnover is?

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The following are methods of quoting prices EXCEPT

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From the date of issue, cheques are valid for-----------months.

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Public debt management is one of the functions of a ----- bank

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A Speculator in the stock exchange who buys shares hope that prices will rise is called

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