NECO SSCE - Commerce - 2002

What is the main aim and objective of ECOWAS?

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

Bonded warehouses are controlled by

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

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

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

What is NOT an essential element of a valid contract?

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

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

What is a characteristic of a public limited company?

Who has no right of ownership to a business organization?

The best definition of Communication in Commerce is

Which feature of money facilitates small transactions?

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

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

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

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

Aids to trade refers to

Marketing mix consists of

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

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

An already existing line of product is advertised in order to

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

Which holder receives interest?

What is NOT a function of marketing?

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

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

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

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

Gases are best transported by

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

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

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”?

The fastest and most accurate means of passing information is

Another name for exchange of goods or other goods is called

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

Grouping consumers based on their purchasing habits is called market

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

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

Which comes first in the channel of distribution?

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

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

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

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

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

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

Which is a Public Monopoly?

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

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