NECO SSCE - Commerce - 2001 (Objective)

In the stock exchange what is the day when the parties to a transaction decide whether the bargain should be completed held over until the next settlement?

account Bonne réponse

contango

making- up

name

ticket

Détails de la réponse

Lisez la note de cours sur Stock Exchange (JAMB)

Stock Exchange

Voir la réponse

Question 22 Rapport

The word ‘Commerce’ means

buying and selling of goods and services

exchange and distribution of goods and services Bonne réponse

life-blood of every nation

production of utilities

trade and all the services which assist trade

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Commerce

Voir la réponse

Question 23 Rapport

What is the rate of turnover of Amura Ajita’s business?

5 Bonne réponse

5.3

5.4

5.7

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Commerce

Voir la réponse

Question 24 Rapport

The bringing of ownership and management of a former private industry under the control of the government is called

corporation

industrialization

nationalization Bonne réponse

participation

privatization

Détails de la réponse

Voir la réponse

Question 25 Rapport

What is a statement of account? It is a/an

note to inform the customer of an addition to his business transaction

original letter sent to customer asking them to settle their bills

statement of acceptance of credit facilities to a customer

summary of customer’s transactions for a given period Bonne réponse

summation of goods sold to a customer for a particular item

Détails de la réponse

Voir la réponse

Question 26 Rapport

What is NOT a function of the chambers of commerce? They

arbitrate and settle disputes among members

collect and pass important information to all members and the general public

consult and co-operate with government on matters of trade and industry

make members aware of government policies concerning customs and regulations Bonne réponse

serve as media for the expression of the opinions of employers on matters relating to employment

Détails de la réponse

Lisez la note de cours sur Trade (WAEC)

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Production (JAMB)

Lisez la note de cours sur Occupation (JAMB)

Trade

Commerce

Production

Occupation

Voir la réponse

Question 27 Rapport

lf the price of a good falls and the demand for that good also fall, then that good is .......

a normal good

an inferior good

a supper good

an expensive good

none Bonne réponse

Détails de la réponse

Lisez la note de cours sur Purchase And Sale Of Goods (JAMB)

Lisez la note de cours sur Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Voir la réponse

Question 28 Rapport

ln stock exchange, the buyer is NOT entitled to the dividend when the stock is quoted

clean

cum-dividend

double barrelled

ex-dividend Bonne réponse

firm

Détails de la réponse

Lisez la note de cours sur Stock Exchange (JAMB)

Stock Exchange

Voir la réponse

Question 29 Rapport

Under what form of life insurance policy is premium paid over an agreed number of years and the sum assured is paid either at the end of that specified time or when the policy holder dies, whichever comes first?

annuity

deterred annuity

endowment Bonne réponse

term

whole life

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Trade (JAMB)

Commerce

Trade

Voir la réponse

Question 30 Rapport

What is NOT an instrument of credit?

bills of exchange

cheque

money order

postal order

source document Bonne réponse

Détails de la réponse

Lisez la note de cours sur Money (JAMB)

Money

Voir la réponse

Question 31 Rapport

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

co-operative society

industrial association

manufacturers’ association

trade and industry practitioners

trade association Bonne réponse

Détails de la réponse

Voir la réponse

Question 32 Rapport

The feature of a supermarket is

having central control from head-office

sales common household goods Bonne réponse

sales of goods without owning shops

similarity in shops’ frontages

that there are many shops under a roof

Détails de la réponse

Lisez la note de cours sur Purchase And Sale Of Goods (JAMB)

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Aids-to-Trade (JAMB)

Purchase And Sale Of Goods

Commerce

Aids-to-Trade

Voir la réponse

Question 33 Rapport

What is the OBJECT of a co-operative society?

diversify the members’ produce tor international purpose

gain freedom in marketing the members’ produce

indulge in large scale production and earn huge profits

popularize government policies among the members

provide an agency for meeting the economic needs of members Bonne réponse

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Occupation (WAEC)

Commerce

Occupation

Voir la réponse

Question 34 Rapport

What is NOT a principle of an insurance contract?

contribution

indemnity

insurable interest

premium Bonne réponse

subrogation

Détails de la réponse

Lisez la note de cours sur Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Voir la réponse

Question 35 Rapport

What is NOT a supplementary service of banks?

agents for payment Bonne réponse

custody of valuables

dealing in foreign exchange

investments

referees

Détails de la réponse

Lisez la note de cours sur Financing Business (JAMB)

Lisez la note de cours sur Purchase And Sale Of Goods (JAMB)

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Trade (JAMB)

Lisez la note de cours sur Stock Exchange (JAMB)

Financing Business

Purchase And Sale Of Goods

Commerce

Trade

Stock Exchange

Voir la réponse

Question 36 Rapport

What best explains the principle of subrogation in insurable?

Both parties of the insurance contract must deal openly and honestly with each other and disclose all relevant facts

The right that a person has to stand in the place of another and enjoy all the rights and remedies of that other person Bonne réponse

There must be a close connection between the risk insured against and the cause of the loss

The insurer who insures the same risk with more than one insurer can only recover to the extent of the loss and nothing more, in the occurrence of the event

The insured discloses all the material facts which would affect the premium which the insurer charges

Détails de la réponse

Lisez la note de cours sur Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Voir la réponse

Question 37 Rapport

What is NOT a suitable reason for the growth in large retail business?

distribution of wealth through expansion of retail outlets because there is great profit

improved transportation system which makes people able to move about easily to buy goods

low cost per unit of goods resulting from economics of large scale

people’s willingness to migrate from rural areas to towns for white collar jobs Bonne réponse

rise in standards of living of people resulting from improved wages/salaries

Détails de la réponse

Lisez la note de cours sur Purchase And Sale Of Goods (JAMB)

Lisez la note de cours sur Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Voir la réponse

Question 38 Rapport

What is NOT an advantage of direct distribution of goods to the consumer by the manufacturer?

closer contact market trends, etc.

decrease in bad debts

greater intensiveness of the sales campaign Bonne réponse

no trading discounts need be allowed

sales are more accurately and efficiently made to the consumer

Détails de la réponse

Voir la réponse

Question 39 Rapport

The affairs of the co-operative society are in the hands of the

Board of directors

Board of trustees

Executive members Bonne réponse

Registrar of Co-operatives

Shareholders

Détails de la réponse

Lisez la note de cours sur Occupation (JAMB)

Occupation

Voir la réponse

Question 40 Rapport

Which term means that for the price quoted, transporting the goods is ‘free’ up to the time it is placed on board a carrier?

carriage paid (Cge. Pd.)

cost on delivery (C.O.D.)

ex-ship

free on board (F.O.B.) Bonne réponse

free on rail (F.O.R.)

Détails de la réponse

Lisez la note de cours sur Trade (WAEC)

Trade

Voir la réponse

Question 41 Rapport

What is an aim of a trade association?

protection of members’ interests Bonne réponse

watching government legislation which may affect members interests

encouraging the introduction of standard grades and sizes of goods

making arrangements for the settlement of disputes

exchanging information and creating uniformity in methods of dealing

Détails de la réponse

Lisez la note de cours sur Trade Associations (WAEC)

Lisez la note de cours sur Commerce (JAMB)

Trade Associations

Commerce

Voir la réponse

Question 42 Rapport

What is NOT a right of the consumer?

a healthy environment

be heard

to be informed

get value for money spent

save money on food and drugs Bonne réponse

Détails de la réponse

Lisez la note de cours sur Purchase And Sale Of Goods (JAMB)

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Occupation (JAMB)

Purchase And Sale Of Goods

Commerce

Occupation

Voir la réponse

Question 43 Rapport

What is NOT an advantage of indigenization?

lt enhances the development of private initiative

lt ensures that important social services are provided at affordable cost Bonne réponse

lt ensures that Nigerians control and run the business enter-prize of their country

It fosters and accelerates the pace of industrial development

There is a saving in foreign exchange

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Production (JAMB)

Lisez la note de cours sur Occupation (JAMB)

Commerce

Production

Occupation

Voir la réponse

Question 44 Rapport

A document which makes it obligatory on the part of the seller to supply the goods or services if the inquirer accepts the conditions stated therein is called Alan

inquiry

order Bonne réponse

invoice

quotation

receipt

Détails de la réponse

Lisez la note de cours sur Purchase And Sale Of Goods (JAMB)

Lisez la note de cours sur Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Voir la réponse

Question 45 Rapport