NECO SSCE - Commerce - 2002 (Objective)

Frage 1 Bericht

What is a characteristic of a public limited company?

The dividend is shared equally

Shares are not dealt with in the stock exchange

Shares are offered freely to members

The liabilities are not limited

There is no limit to the number of members Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Frage 2 Bericht

Which holder receives interest?

cumulative preference

debenture Richtige Antwort

non-cumulative

ordinary share

preference shares

Antwortdetails

Lies die Unterrichtsnotiz zu Occupation (JAMB)

Occupation

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Frage 3 Bericht

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

be informed

buy whatever they want Richtige Antwort

choose

healthy environment

safety

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Frage 4 Bericht

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

Article of Association

Companies’ Act

Memorandum of Association Richtige Antwort

Deed

Prospectus

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Frage 5 Bericht

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

authorized capital

called-up capital

capital employed

fixed capital

working capital Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Trade (WAEC)

Lies die Unterrichtsnotiz zu Business Capital And Profits (WAEC)

Trade

Business Capital And Profits

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Frage 6 Bericht

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

N2,875

N3,875

N4,875 Richtige Antwort

N5,175

N5,125

Antwortdetails

Lies die Unterrichtsnotiz zu Purchase And Sale Of Goods (JAMB)

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

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Frage 7 Bericht

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

commercialization Richtige Antwort

indigenization

industrialization

nationalization

privatization

Antwortdetails

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Commerce

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Frage 8 Bericht

Bonded warehouses are controlled by

clearing and forwarding agents

custom and excise Richtige Antwort

export promotion council

marketing boards

port authority

Antwortdetails

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Frage 9 Bericht

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

courier services Richtige Antwort

express letters

parcels

quick delivery

registered letters

Antwortdetails

Lies die Unterrichtsnotiz zu Transport, Tourism, Communication And Warehousing (WAEC)

Lies die Unterrichtsnotiz zu Occupation (JAMB)

Transport, Tourism, Communication And Warehousing

Occupation

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Frage 10 Bericht

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

current account Richtige Antwort

deposit account

fixed deposit

savings account

time deposit

Antwortdetails

Lies die Unterrichtsnotiz zu Financing Business (JAMB)

Lies die Unterrichtsnotiz zu Occupation (WAEC)

Financing Business

Occupation

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Frage 11 Bericht

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

consumer orientation

marketing concept Richtige Antwort

market research

market segmentation

sales orientation

Antwortdetails

Lies die Unterrichtsnotiz zu Elements Of Marketing (JAMB)

Elements Of Marketing

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Frage 12 Bericht

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

capital

entrepreneur

labour Richtige Antwort

land

work

Antwortdetails

Lies die Unterrichtsnotiz zu Production (WAEC)

Lies die Unterrichtsnotiz zu Occupation (WAEC)

Production

Occupation

Antwort anzeigen

Frage 13 Bericht

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

Chamber of Commerce Richtige Antwort

Economic Community of West African States

Lake-Chad Basin Commission

Niger Basin Commission

Trade Union

Antwortdetails

Lies die Unterrichtsnotiz zu Trade Associations (WAEC)

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Trade Associations

Commerce

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Frage 14 Bericht

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

consumer education Richtige Antwort

manufacturer's education

marketing education

producer‘s education

salesmanship

Antwortdetails

Lies die Unterrichtsnotiz zu Advertising (WAEC)

Lies die Unterrichtsnotiz zu Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

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Frage 15 Bericht

Another name for exchange of goods or other goods is called

barter Richtige Antwort

buying

credit

selling

specialization

Antwortdetails

Lies die Unterrichtsnotiz zu Trade (WAEC)

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Trade

Commerce

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Frage 16 Bericht

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

indemnity

insurable interest Richtige Antwort

pooling of risks

subrogation

uberrimae tides

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

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Frage 17 Bericht

Which feature of money facilitates small transactions?

divisibility Richtige Antwort

durability

portability

recognisability

scarcity

Antwortdetails

Lies die Unterrichtsnotiz zu Money (JAMB)

Money

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Frage 18 Bericht

Gases are best transported by

air

canals

pipelines Richtige Antwort

rail

sea

Antwortdetails

Lies die Unterrichtsnotiz zu Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

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Frage 19 Bericht

Which is a Public Monopoly?

John Holt Nigeria plc

Lever Brothers Nigeria plc

National Electric Power Authority Richtige Antwort

PZ Nigeria plc

United Africa Company Ltd

Antwortdetails

Lies die Unterrichtsnotiz zu Trade (WAEC)

Trade

Antwort anzeigen

Frage 20 Bericht

What is NOT an essential element of a valid contract?

acceptance

compensation Richtige Antwort

consideration

legality

offer

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Frage 21 Bericht

An already existing line of product is advertised in order to

build brand recognition

develop customers’ awareness

entertain customers

introduce a price deal

retain old customers Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Advertising (WAEC)

Lies die Unterrichtsnotiz zu Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

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Frage 22 Bericht

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

capital Richtige Antwort

convenience

giffen

industrial

specialty

Antwortdetails

Lies die Unterrichtsnotiz zu Production (WAEC)

Production

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Frage 23 Bericht

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

advertising

communication

insurance

marketing Richtige Antwort

personal selling

Antwortdetails

Lies die Unterrichtsnotiz zu Elements Of Marketing (JAMB)

Elements Of Marketing

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Frage 24 Bericht

Aids to trade refers to

advertising, insurance, export and import

advertising, transport, banking, insurance and warehousing Richtige Antwort

banking, insurance and import only

insurance, trade, banking and retailer

trade, export, transport, advertising and import

Antwortdetails

Lies die Unterrichtsnotiz zu Aids-to-Trade (JAMB)

Aids-to-Trade

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Frage 25 Bericht

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

Letter of Allotment

Memorandum and Article Associations

Newspaper

Prospectus Richtige Antwort

Radio and television

Antwortdetails

Lies die Unterrichtsnotiz zu Stock Exchange (JAMB)

Stock Exchange

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Frage 26 Bericht

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

authorized capital

current liabilities

fixed assets

liquid capital

paid-up capital Richtige Antwort

Antwortdetails

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Frage 27 Bericht

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

Cooperative Society

Partnership

Private Limited Company Richtige Antwort

Public Enterprise

Public Limited Company

Antwortdetails

Lies die Unterrichtsnotiz zu Business Units (WAEC)

Business Units

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Frage 28 Bericht

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

accident insurance

export credit insurance

fidelity guarantee insurance Richtige Antwort

fire insurance

life assurance

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Frage 29 Bericht

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

balance sheet

petty cash voucher

receipt

statement of account Richtige Antwort

voucher

Antwortdetails

Lies die Unterrichtsnotiz zu Purchase And Sale Of Goods (JAMB)

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Lies die Unterrichtsnotiz zu Trade (JAMB)

Purchase And Sale Of Goods

Commerce

Trade

Antwort anzeigen

Frage 30 Bericht

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

breach of contract Richtige Antwort

frustration

operational law

performance

voluntary agreement of the parties

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Frage 31 Bericht

Who has no right of ownership to a business organization?

debenture holder Richtige Antwort

entrepreneur

partner

share-holder

sole proprietor

Antwortdetails

Lies die Unterrichtsnotiz zu Production (JAMB)

Lies die Unterrichtsnotiz zu Occupation (JAMB)

Production

Occupation

Antwort anzeigen

Frage 32 Bericht

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

authorized capital

current liabilities

fixed assets

liquid capital Richtige Antwort

paid-up capital

Antwortdetails

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Commerce

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Frage 33 Bericht

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”?

conditional sales

credit sales

hire purchase Richtige Antwort

leasing

trade-in sales

Antwortdetails

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Lies die Unterrichtsnotiz zu Occupation (JAMB)

Commerce

Occupation

Antwort anzeigen

Frage 34 Bericht

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

commercialization

indigenization

nationalization Richtige Antwort

naturalization

privatization

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Frage 35 Bericht

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

education and electricity

electricity only

essential services Richtige Antwort

loans for the people

roads and electricity

Antwortdetails

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Frage 36 Bericht

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

Direct Services, Commercial and industrial Richtige Antwort

Manufacturer, Blacksmith and Industrial

Industrial, Manufacturing and Commercial

Teaching, Manufacturing and Commercial

Trading, Teaching and Commercial

Antwortdetails

Lies die Unterrichtsnotiz zu Occupation (JAMB)

Lies die Unterrichtsnotiz zu Occupation (WAEC)

Occupation

Antwort anzeigen

Frage 37 Bericht

Which comes first in the channel of distribution?

consignor

consumer

manufacturer Richtige Antwort

retailer

wholesaler

Antwortdetails

Lies die Unterrichtsnotiz zu Production (WAEC)

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Lies die Unterrichtsnotiz zu Occupation (JAMB)

Lies die Unterrichtsnotiz zu Money (JAMB)

Lies die Unterrichtsnotiz zu Business Units (WAEC)

Production

Commerce

Occupation

Money

Business Units

Antwort anzeigen

Frage 38 Bericht

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

auctioneer

chamber of commerce

del-credere agent

insurance agent

stock broker Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Stock Exchange (JAMB)

Stock Exchange

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Frage 39 Bericht

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

Central Bank of Nigeria Richtige Antwort

Federal Mortgage Bank of Nigeria

Nigerian Bank for Commerce and industry

National Bank of Nigeria

Nigeria Industrial Development Bank

Antwortdetails

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Commerce

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Frage 40 Bericht

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

commission

dividend

goodwill Richtige Antwort

interest

profit

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Antwort anzeigen

Frage 41 Bericht

What is NOT a function of marketing?

changing the nature of the marketable goods

enlargement of the market

export promotion

provision of employment

segmenting the market Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)

Lies die Unterrichtsnotiz zu Purchase And Sale Of Goods (JAMB)

Lies die Unterrichtsnotiz zu Elements Of Marketing (JAMB)

Purchase And Sale Of Goods In Home And Foreign Trade

Purchase And Sale Of Goods

Elements Of Marketing

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Frage 42 Bericht

The best definition of Communication in Commerce is

distribution of information

movement of files

movement of goods and passengers

storing information

transmission of information Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

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Frage 43 Bericht

Marketing mix consists of

place, planning, play and price

planning, controlling and organizing

product, place, price and promotion Richtige Antwort

promotion, play, planning and price

price, planning, promotion and price

Antwortdetails

Lies die Unterrichtsnotiz zu Elements Of Marketing (JAMB)

Elements Of Marketing

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Frage 44 Bericht

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

agency

contract agreement

legal relation

offer and acceptance

valid contract Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Antwort anzeigen

Frage 45 Bericht

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

debit note

letter of inquiry

order form

quotation Richtige Antwort

statement of account

Antwortdetails

Lies die Unterrichtsnotiz zu Purchase And Sale Of Goods (JAMB)

Lies die Unterrichtsnotiz zu Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Antwort anzeigen

Frage 46 Bericht

The fastest and most accurate means of passing information is

airmail letter

express letter

registered letter

telephone Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Antwort anzeigen

Frage 47 Bericht

Grouping consumers based on their purchasing habits is called market

development

expansion

orientation

segmentation Richtige Antwort

selection

Antwortdetails

Lies die Unterrichtsnotiz zu Elements Of Marketing (JAMB)

Elements Of Marketing

Antwort anzeigen

Frage 48 Bericht

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

bulky

durable

fragile

inferior

perishable Richtige Antwort

Antwortdetails

Lies die Unterrichtsnotiz zu Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Antwort anzeigen

Frage 49 Bericht

What is the main aim and objective of ECOWAS?

increasing the tax rate among member countries

operating banking services among members

promoting cooperation and development in all fields of economic activities Richtige Antwort

providing employment opportunity to a few countries

providing essential services among members

Antwortdetails

Lies die Unterrichtsnotiz zu Economic Groupings (WAEC)

Economic Groupings

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Frage 50 Bericht

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

commission

indemnity Richtige Antwort

interest

pooling risks

premium

Antwortdetails

Lies die Unterrichtsnotiz zu Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Antwort anzeigen






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