NECO SSCE - Commerce - 2005

Tariff can be defined as a compulsory levy on

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

The term “caveat emptor” implies that

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

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

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

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

Which of these means of payment originates from a creditor?

Gross profit can be calculated as

Which of the following is NOT a component of trade?

The most common form of business unit in West Africa is

Which of the following services is NOT rendered by NITEL?

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

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

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

The components of a balance of payments account are

Which of the following does NOT belong to the group?

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

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

The following are functions of marketing EXCEPT

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

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

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

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

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

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

Bonded warehouse is controlled and supervised by

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

Who among the following engages in extractive activities?

The Nigeria Enterprises promotion Decree brought about policy

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

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

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

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

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

One of the easiest means of transporting petroleum product is by

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

Which of the following is NOT a credit instrument?

Departmental store, supermarket and chain store are examples of

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

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

The functions of public corporations include the following EXCEPT

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

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

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

A public limited company is regarded as a legal entity because

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