NECO SSCE - Commerce - 2002 (Objective)

Question 1 Rapport

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 Bonne réponse

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 2 Rapport

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

consumer education Bonne réponse

manufacturer's education

marketing education

producer‘s education

salesmanship

Détails de la réponse

Lisez la note de cours sur Advertising (WAEC)

Lisez la note de cours sur Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

Voir la réponse

Question 3 Rapport

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

advertising

communication

insurance

marketing Bonne réponse

personal selling

Détails de la réponse

Lisez la note de cours sur Elements Of Marketing (JAMB)

Elements Of Marketing

Voir la réponse

Question 4 Rapport

Aids to trade refers to

advertising, insurance, export and import

advertising, transport, banking, insurance and warehousing Bonne réponse

banking, insurance and import only

insurance, trade, banking and retailer

trade, export, transport, advertising and import

Détails de la réponse

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

Aids-to-Trade

Voir la réponse

Question 5 Rapport

Which comes first in the channel of distribution?

consignor

consumer

manufacturer Bonne réponse

retailer

wholesaler

Détails de la réponse

Lisez la note de cours sur Production (WAEC)

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Occupation (JAMB)

Lisez la note de cours sur Money (JAMB)

Lisez la note de cours sur Business Units (WAEC)

Production

Commerce

Occupation

Money

Business Units

Voir la réponse

Question 6 Rapport

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 Bonne réponse

choose

healthy environment

safety

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 7 Rapport

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 Bonne réponse

Détails de la réponse

Lisez la note de cours sur Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)

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

Lisez la note de cours sur Elements Of Marketing (JAMB)

Purchase And Sale Of Goods In Home And Foreign Trade

Purchase And Sale Of Goods

Elements Of Marketing

Voir la réponse

Question 8 Rapport

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

education and electricity

electricity only

essential services Bonne réponse

loans for the people

roads and electricity

Détails de la réponse

Voir la réponse

Question 9 Rapport

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 Bonne réponse

Détails de la réponse

Lisez la note de cours sur Stock Exchange (JAMB)

Stock Exchange

Voir la réponse

Question 10 Rapport

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

authorized capital

current liabilities

fixed assets

liquid capital

paid-up capital Bonne réponse

Détails de la réponse

Voir la réponse

Question 11 Rapport

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

bulky

durable

fragile

inferior

perishable Bonne réponse

Détails de la réponse

Lisez la note de cours sur Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Voir la réponse

Question 12 Rapport

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

capital Bonne réponse

convenience

giffen

industrial

specialty

Détails de la réponse

Lisez la note de cours sur Production (WAEC)

Production

Voir la réponse

Question 13 Rapport

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

consumer orientation

marketing concept Bonne réponse

market research

market segmentation

sales orientation

Détails de la réponse

Lisez la note de cours sur Elements Of Marketing (JAMB)

Elements Of Marketing

Voir la réponse

Question 14 Rapport

Another name for exchange of goods or other goods is called

barter Bonne réponse

buying

credit

selling

specialization

Détails de la réponse

Lisez la note de cours sur Trade (WAEC)

Lisez la note de cours sur Commerce (JAMB)

Trade

Commerce

Voir la réponse

Question 15 Rapport

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 Bonne réponse

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 16 Rapport

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 Bonne réponse

Détails de la réponse

Lisez la note de cours sur Advertising (WAEC)

Lisez la note de cours sur Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

Voir la réponse

Question 17 Rapport

Who has no right of ownership to a business organization?

debenture holder Bonne réponse

entrepreneur

partner

share-holder

sole proprietor

Détails de la réponse

Lisez la note de cours sur Production (JAMB)

Lisez la note de cours sur Occupation (JAMB)

Production

Occupation

Voir la réponse

Question 18 Rapport

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 Bonne réponse

Détails de la réponse

Lisez la note de cours sur Trade (WAEC)

Lisez la note de cours sur Business Capital And Profits (WAEC)

Trade

Business Capital And Profits

Voir la réponse

Question 19 Rapport

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 Bonne réponse

providing employment opportunity to a few countries

providing essential services among members

Détails de la réponse

Lisez la note de cours sur Economic Groupings (WAEC)

Economic Groupings

Voir la réponse

Question 20 Rapport

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

Direct Services, Commercial and industrial Bonne réponse

Manufacturer, Blacksmith and Industrial

Industrial, Manufacturing and Commercial

Teaching, Manufacturing and Commercial

Trading, Teaching and Commercial

Détails de la réponse

Lisez la note de cours sur Occupation (JAMB)

Lisez la note de cours sur Occupation (WAEC)

Occupation

Voir la réponse

Question 21 Rapport

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 Bonne réponse

Deed

Prospectus

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 22 Rapport

Which is a Public Monopoly?

John Holt Nigeria plc

Lever Brothers Nigeria plc

National Electric Power Authority Bonne réponse

PZ Nigeria plc

United Africa Company Ltd

Détails de la réponse

Lisez la note de cours sur Trade (WAEC)

Trade

Voir la réponse

Question 23 Rapport

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

Letter of Allotment

Memorandum and Article Associations

Newspaper

Prospectus Bonne réponse

Radio and television

Détails de la réponse

Lisez la note de cours sur Stock Exchange (JAMB)

Stock Exchange

Voir la réponse

Question 24 Rapport

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 Bonne réponse

N5,175

N5,125

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 25 Rapport

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

authorized capital

current liabilities

fixed assets

liquid capital Bonne réponse

paid-up capital

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Commerce

Voir la réponse

Question 26 Rapport

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

Chamber of Commerce Bonne réponse

Economic Community of West African States

Lake-Chad Basin Commission

Niger Basin Commission

Trade Union

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 27 Rapport

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

commercialization Bonne réponse

indigenization

industrialization

nationalization

privatization

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Commerce

Voir la réponse

Question 28 Rapport

The fastest and most accurate means of passing information is

airmail letter

express letter

registered letter

telephone Bonne réponse

Détails de la réponse

Lisez la note de cours sur Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Voir la réponse

Question 29 Rapport

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

Cooperative Society

Partnership

Private Limited Company Bonne réponse

Public Enterprise

Public Limited Company

Détails de la réponse

Lisez la note de cours sur Business Units (WAEC)

Business Units

Voir la réponse

Question 30 Rapport

Gases are best transported by

air

canals

pipelines Bonne réponse

rail

sea

Détails de la réponse

Lisez la note de cours sur Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Voir la réponse

Question 31 Rapport

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 Bonne réponse

voucher

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 Trade (JAMB)

Purchase And Sale Of Goods

Commerce

Trade

Voir la réponse

Question 32 Rapport

Grouping consumers based on their purchasing habits is called market

development

expansion

orientation

segmentation Bonne réponse

selection

Détails de la réponse

Lisez la note de cours sur Elements Of Marketing (JAMB)

Elements Of Marketing

Voir la réponse

Question 33 Rapport

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

current account Bonne réponse

deposit account

fixed deposit

savings account

time deposit

Détails de la réponse

Lisez la note de cours sur Financing Business (JAMB)

Lisez la note de cours sur Occupation (WAEC)

Financing Business

Occupation

Voir la réponse

Question 34 Rapport

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

commission

dividend

goodwill Bonne réponse

interest

profit

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 35 Rapport

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

breach of contract Bonne réponse

frustration

operational law

performance

voluntary agreement of the parties

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 36 Rapport

Which holder receives interest?

cumulative preference

debenture Bonne réponse

non-cumulative

ordinary share

preference shares

Détails de la réponse

Lisez la note de cours sur Occupation (JAMB)

Occupation

Voir la réponse

Question 37 Rapport

What is NOT an essential element of a valid contract?

acceptance

compensation Bonne réponse

consideration

legality

offer

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 38 Rapport

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 Bonne réponse

leasing

trade-in sales

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Lisez la note de cours sur Occupation (JAMB)

Commerce

Occupation

Voir la réponse

Question 39 Rapport

Which feature of money facilitates small transactions?

divisibility Bonne réponse

durability

portability

recognisability

scarcity

Détails de la réponse

Lisez la note de cours sur Money (JAMB)

Money

Voir la réponse

Question 40 Rapport

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

commission

indemnity Bonne réponse

interest

pooling risks

premium

Détails de la réponse

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

Legal Aspect Of Business

Voir la réponse

Question 41 Rapport

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

commercialization

indigenization

nationalization Bonne réponse

naturalization

privatization

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 42 Rapport

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

indemnity

insurable interest Bonne réponse

pooling of risks

subrogation

uberrimae tides

Détails de la réponse

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

Legal Aspect Of Business

Voir la réponse

Question 43 Rapport

Bonded warehouses are controlled by

clearing and forwarding agents

custom and excise Bonne réponse

export promotion council

marketing boards

port authority

Détails de la réponse

Voir la réponse

Question 44 Rapport

The best definition of Communication in Commerce is

distribution of information

movement of files

movement of goods and passengers

storing information

transmission of information Bonne réponse

Détails de la réponse

Lisez la note de cours sur Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Voir la réponse

Question 45 Rapport

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 Bonne réponse

fire insurance

life assurance

Détails de la réponse

Lisez la note de cours sur Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Voir la réponse

Question 46 Rapport

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 Bonne réponse

statement of account

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 47 Rapport

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

Central Bank of Nigeria Bonne réponse

Federal Mortgage Bank of Nigeria

Nigerian Bank for Commerce and industry

National Bank of Nigeria

Nigeria Industrial Development Bank

Détails de la réponse

Lisez la note de cours sur Commerce (JAMB)

Commerce

Voir la réponse

Question 48 Rapport

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

capital

entrepreneur

labour Bonne réponse

land

work

Détails de la réponse

Lisez la note de cours sur Production (WAEC)

Lisez la note de cours sur Occupation (WAEC)

Production

Occupation

Voir la réponse

Question 49 Rapport

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

courier services Bonne réponse

express letters

parcels

quick delivery

registered letters

Détails de la réponse

Lisez la note de cours sur Transport, Tourism, Communication And Warehousing (WAEC)

Lisez la note de cours sur Occupation (JAMB)

Transport, Tourism, Communication And Warehousing

Occupation

Voir la réponse

Question 50 Rapport

Marketing mix consists of

place, planning, play and price

planning, controlling and organizing

product, place, price and promotion Bonne réponse

promotion, play, planning and price

price, planning, promotion and price

Détails de la réponse

Lisez la note de cours sur Elements Of Marketing (JAMB)

Elements Of Marketing

Voir la réponse






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