NECO SSCE - Commerce - 2004

In a private limited liability company shares can be transferred

Kate insured her fancy store for losses arising from burglary. The store was later burnt down. Which insurance principle denied her compensation?

Which of the following is NOT a function of the central bank?

The full amount of capital which a company is authorized to raise is stated in the

Business transactions are usually based upon agreements known as

Trade may be defined as

Who among the following assess goods on arrival at a port?

Goods are given utility by

The right to retain possession of property of another until certain legitimate demands are satisfied is known as

The concept that the satisfaction of the consumer's wants is to be emphasized at all stages of production and distribution is known as consumer...........

Equity of a company is another name for....... shares.

A receipt is a/an

Credit in business transaction is a. ......

The drawer of a cheque is usually the

When manufacturers sell directly to consumers they have eliminated

An industry whose major actors consists of those engaged in sourcing raw materials from the earth surface is known as .... industry.

One way of restricting the quantity of goods which may be imported into a country is by

The value of money is measured by the

In international trade, ...... is used to show the exact country where the goods are imported.

Which of the following documents shows a summary of a complete sale which the supplier sends to the buyer?

The prospectus of a company must include

Department stores are usually located in

Which of the following is NOT an importance of warehousing?

The last link in the chain of distribution is the

A bill of lading is best described as the

The services offered by the following people .could be grouped under direct services. EXCEPT

Brand name is used to

A 'duty bill' is used to indicate whether the goods arriving a port are........

The excess value of all the assets of a business over the value of its liabilities is called

The organisation of petroleum exporting countries (OPEC) is an example of a/n......

A credit note is used to

All these are instruments of consumer protection EXCEPT

Which of the following best describes span of control

The major divisions of commerce are

A voluntary body formed by members of a particular branch of trade or industry to represent interest of members is known as

Which of the following is NOT part of the documents to be submitted for the registration of companies?

The creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them is known as

In limited liability company, the liability of a member at the time of liquidation is limited to the amount of shares.

Which of the following is a non-insurable risk

All are aids to Trade EXCEPT

The term “enterprise” denotes the ability to

The insurance policy that specifically covers damage to structure or machinery of a ship is known as.......insurance.

Under utmost good faith as an insurance principle, a person must

A business person who contracts to sell shares in the expectation of a fall in price is a

Profit in partnership is shared according to

Short-term loan to expand a business is provided by

At an auction sale, an auctioneer acts as a/an..........