NECO SSCE - Commerce - 2002 (Objective)

Tambaya 1 Rahoto

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

Cooperative Society

Partnership

Private Limited Company Amsar da ta dace

Public Enterprise

Public Limited Company

Bayanin Amsa

Karanta bayanin darasi akan Business Units (WAEC)

Business Units

Duba Amsa

Tambaya 2 Rahoto

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 Amsar da ta dace

fire insurance

life assurance

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 3 Rahoto

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

capital

entrepreneur

labour Amsar da ta dace

land

work

Bayanin Amsa

Karanta bayanin darasi akan Production (WAEC)

Karanta bayanin darasi akan Occupation (WAEC)

Production

Occupation

Duba Amsa

Tambaya 4 Rahoto

Which comes first in the channel of distribution?

consignor

consumer

manufacturer Amsar da ta dace

retailer

wholesaler

Bayanin Amsa

Karanta bayanin darasi akan Production (WAEC)

Karanta bayanin darasi akan Commerce (JAMB)

Karanta bayanin darasi akan Occupation (JAMB)

Karanta bayanin darasi akan Money (JAMB)

Karanta bayanin darasi akan Business Units (WAEC)

Production

Commerce

Occupation

Money

Business Units

Duba Amsa

Tambaya 5 Rahoto

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 Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Advertising (WAEC)

Karanta bayanin darasi akan Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

Duba Amsa

Tambaya 6 Rahoto

Grouping consumers based on their purchasing habits is called market

development

expansion

orientation

segmentation Amsar da ta dace

selection

Bayanin Amsa

Karanta bayanin darasi akan Elements Of Marketing (JAMB)

Elements Of Marketing

Duba Amsa

Tambaya 7 Rahoto

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

commercialization

indigenization

nationalization Amsar da ta dace

naturalization

privatization

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 8 Rahoto

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 Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Stock Exchange (JAMB)

Stock Exchange

Duba Amsa

Tambaya 9 Rahoto

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

authorized capital

current liabilities

fixed assets

liquid capital

paid-up capital Amsar da ta dace

Bayanin Amsa

Duba Amsa

Tambaya 10 Rahoto

Bonded warehouses are controlled by

clearing and forwarding agents

custom and excise Amsar da ta dace

export promotion council

marketing boards

port authority

Bayanin Amsa

Duba Amsa

Tambaya 11 Rahoto

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 Amsar da ta dace

providing employment opportunity to a few countries

providing essential services among members

Bayanin Amsa

Karanta bayanin darasi akan Economic Groupings (WAEC)

Economic Groupings

Duba Amsa

Tambaya 12 Rahoto

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

Direct Services, Commercial and industrial Amsar da ta dace

Manufacturer, Blacksmith and Industrial

Industrial, Manufacturing and Commercial

Teaching, Manufacturing and Commercial

Trading, Teaching and Commercial

Bayanin Amsa

Karanta bayanin darasi akan Occupation (JAMB)

Karanta bayanin darasi akan Occupation (WAEC)

Occupation

Duba Amsa

Tambaya 13 Rahoto

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

current account Amsar da ta dace

deposit account

fixed deposit

savings account

time deposit

Bayanin Amsa

Karanta bayanin darasi akan Financing Business (JAMB)

Karanta bayanin darasi akan Occupation (WAEC)

Financing Business

Occupation

Duba Amsa

Tambaya 14 Rahoto

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 Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 15 Rahoto

Gases are best transported by

air

canals

pipelines Amsar da ta dace

rail

sea

Bayanin Amsa

Karanta bayanin darasi akan Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Duba Amsa

Tambaya 16 Rahoto

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 Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 17 Rahoto

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 Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Trade (WAEC)

Karanta bayanin darasi akan Business Capital And Profits (WAEC)

Trade

Business Capital And Profits

Duba Amsa

Tambaya 18 Rahoto

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 Amsar da ta dace

choose

healthy environment

safety

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 19 Rahoto

What is NOT an essential element of a valid contract?

acceptance

compensation Amsar da ta dace

consideration

legality

offer

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 20 Rahoto

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

Letter of Allotment

Memorandum and Article Associations

Newspaper

Prospectus Amsar da ta dace

Radio and television

Bayanin Amsa

Karanta bayanin darasi akan Stock Exchange (JAMB)

Stock Exchange

Duba Amsa

Tambaya 21 Rahoto

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 Amsar da ta dace

N5,175

N5,125

Bayanin Amsa

Karanta bayanin darasi akan Purchase And Sale Of Goods (JAMB)

Karanta bayanin darasi akan Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Duba Amsa

Tambaya 22 Rahoto

The fastest and most accurate means of passing information is

airmail letter

express letter

registered letter

telephone Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Duba Amsa

Tambaya 23 Rahoto

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

courier services Amsar da ta dace

express letters

parcels

quick delivery

registered letters

Bayanin Amsa

Karanta bayanin darasi akan Transport, Tourism, Communication And Warehousing (WAEC)

Karanta bayanin darasi akan Occupation (JAMB)

Transport, Tourism, Communication And Warehousing

Occupation

Duba Amsa

Tambaya 24 Rahoto

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

bulky

durable

fragile

inferior

perishable Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Duba Amsa

Tambaya 25 Rahoto

Which is a Public Monopoly?

John Holt Nigeria plc

Lever Brothers Nigeria plc

National Electric Power Authority Amsar da ta dace

PZ Nigeria plc

United Africa Company Ltd

Bayanin Amsa

Karanta bayanin darasi akan Trade (WAEC)

Trade

Duba Amsa

Tambaya 26 Rahoto

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

consumer orientation

marketing concept Amsar da ta dace

market research

market segmentation

sales orientation

Bayanin Amsa

Karanta bayanin darasi akan Elements Of Marketing (JAMB)

Elements Of Marketing

Duba Amsa

Tambaya 27 Rahoto

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 Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)

Karanta bayanin darasi akan Purchase And Sale Of Goods (JAMB)

Karanta bayanin darasi akan Elements Of Marketing (JAMB)

Purchase And Sale Of Goods In Home And Foreign Trade

Purchase And Sale Of Goods

Elements Of Marketing

Duba Amsa

Tambaya 28 Rahoto

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

authorized capital

current liabilities

fixed assets

liquid capital Amsar da ta dace

paid-up capital

Bayanin Amsa

Karanta bayanin darasi akan Commerce (JAMB)

Commerce

Duba Amsa

Tambaya 29 Rahoto

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

commercialization Amsar da ta dace

indigenization

industrialization

nationalization

privatization

Bayanin Amsa

Karanta bayanin darasi akan Commerce (JAMB)

Commerce

Duba Amsa

Tambaya 30 Rahoto

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

education and electricity

electricity only

essential services Amsar da ta dace

loans for the people

roads and electricity

Bayanin Amsa

Duba Amsa

Tambaya 31 Rahoto

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

advertising

communication

insurance

marketing Amsar da ta dace

personal selling

Bayanin Amsa

Karanta bayanin darasi akan Elements Of Marketing (JAMB)

Elements Of Marketing

Duba Amsa

Tambaya 32 Rahoto

Who has no right of ownership to a business organization?

debenture holder Amsar da ta dace

entrepreneur

partner

share-holder

sole proprietor

Bayanin Amsa

Karanta bayanin darasi akan Production (JAMB)

Karanta bayanin darasi akan Occupation (JAMB)

Production

Occupation

Duba Amsa

Tambaya 33 Rahoto

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 Amsar da ta dace

voucher

Bayanin Amsa

Karanta bayanin darasi akan Purchase And Sale Of Goods (JAMB)

Karanta bayanin darasi akan Commerce (JAMB)

Karanta bayanin darasi akan Trade (JAMB)

Purchase And Sale Of Goods

Commerce

Trade

Duba Amsa

Tambaya 34 Rahoto

Another name for exchange of goods or other goods is called

barter Amsar da ta dace

buying

credit

selling

specialization

Bayanin Amsa

Karanta bayanin darasi akan Trade (WAEC)

Karanta bayanin darasi akan Commerce (JAMB)

Trade

Commerce

Duba Amsa

Tambaya 35 Rahoto

Which feature of money facilitates small transactions?

divisibility Amsar da ta dace

durability

portability

recognisability

scarcity

Bayanin Amsa

Karanta bayanin darasi akan Money (JAMB)

Money

Duba Amsa

Tambaya 36 Rahoto

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

commission

dividend

goodwill Amsar da ta dace

interest

profit

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 37 Rahoto

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

breach of contract Amsar da ta dace

frustration

operational law

performance

voluntary agreement of the parties

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 38 Rahoto

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

Chamber of Commerce Amsar da ta dace

Economic Community of West African States

Lake-Chad Basin Commission

Niger Basin Commission

Trade Union

Bayanin Amsa

Karanta bayanin darasi akan Trade Associations (WAEC)

Karanta bayanin darasi akan Commerce (JAMB)

Trade Associations

Commerce

Duba Amsa

Tambaya 39 Rahoto

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 Amsar da ta dace

statement of account

Bayanin Amsa

Karanta bayanin darasi akan Purchase And Sale Of Goods (JAMB)

Karanta bayanin darasi akan Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Duba Amsa

Tambaya 40 Rahoto

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 Amsar da ta dace

leasing

trade-in sales

Bayanin Amsa

Karanta bayanin darasi akan Commerce (JAMB)

Karanta bayanin darasi akan Occupation (JAMB)

Commerce

Occupation

Duba Amsa

Tambaya 41 Rahoto

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

Central Bank of Nigeria Amsar da ta dace

Federal Mortgage Bank of Nigeria

Nigerian Bank for Commerce and industry

National Bank of Nigeria

Nigeria Industrial Development Bank

Bayanin Amsa

Karanta bayanin darasi akan Commerce (JAMB)

Commerce

Duba Amsa

Tambaya 42 Rahoto

Marketing mix consists of

place, planning, play and price

planning, controlling and organizing

product, place, price and promotion Amsar da ta dace

promotion, play, planning and price

price, planning, promotion and price

Bayanin Amsa

Karanta bayanin darasi akan Elements Of Marketing (JAMB)

Elements Of Marketing

Duba Amsa

Tambaya 43 Rahoto

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 Amsar da ta dace

Deed

Prospectus

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Duba Amsa

Tambaya 44 Rahoto

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

consumer education Amsar da ta dace

manufacturer's education

marketing education

producer‘s education

salesmanship

Bayanin Amsa

Karanta bayanin darasi akan Advertising (WAEC)

Karanta bayanin darasi akan Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

Duba Amsa

Tambaya 45 Rahoto

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

capital Amsar da ta dace

convenience

giffen

industrial

specialty

Bayanin Amsa

Karanta bayanin darasi akan Production (WAEC)

Production

Duba Amsa

Tambaya 46 Rahoto

The best definition of Communication in Commerce is

distribution of information

movement of files

movement of goods and passengers

storing information

transmission of information Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Duba Amsa

Tambaya 47 Rahoto

Which holder receives interest?

cumulative preference

debenture Amsar da ta dace

non-cumulative

ordinary share

preference shares

Bayanin Amsa

Karanta bayanin darasi akan Occupation (JAMB)

Occupation

Duba Amsa

Tambaya 48 Rahoto

Aids to trade refers to

advertising, insurance, export and import

advertising, transport, banking, insurance and warehousing Amsar da ta dace

banking, insurance and import only

insurance, trade, banking and retailer

trade, export, transport, advertising and import

Bayanin Amsa

Karanta bayanin darasi akan Aids-to-Trade (JAMB)

Aids-to-Trade

Duba Amsa

Tambaya 49 Rahoto

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

commission

indemnity Amsar da ta dace

interest

pooling risks

premium

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Duba Amsa

Tambaya 50 Rahoto

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

indemnity

insurable interest Amsar da ta dace

pooling of risks

subrogation

uberrimae tides

Bayanin Amsa

Karanta bayanin darasi akan Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Duba Amsa






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