NECO SSCE - Commerce - 2002

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

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

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

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

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

Which holder receives interest?

Which comes first in the channel of distribution?

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

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

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

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

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

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

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

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”?

Bonded warehouses are controlled by

What is NOT an essential element of a valid contract?

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

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

What is NOT a function of marketing?

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

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

Who has no right of ownership to a business organization?

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

Which is a Public Monopoly?

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

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

What is the main aim and objective of ECOWAS?

What is a characteristic of a public limited company?

Which feature of money facilitates small transactions?

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

An already existing line of product is advertised in order to

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

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

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

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

Another name for exchange of goods or other goods is called

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

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

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

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

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

Marketing mix consists of

The fastest and most accurate means of passing information is

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

Aids to trade refers to

Gases are best transported by

The best definition of Communication in Commerce is

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

Grouping consumers based on their purchasing habits is called market