NECO SSCE - Commerce - 2002 (Objective)

Ajụjụ 1 Ripọtì

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

courier services Azịza ziri ezi

express letters

parcels

quick delivery

registered letters

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Transport, Tourism, Communication And Warehousing (WAEC)

Gụọ akwụkwọ nkuzi na Occupation (JAMB)

Transport, Tourism, Communication And Warehousing

Occupation

Lee Azịza

Ajụjụ 2 Ripọtì

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 Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 3 Ripọtì

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

Letter of Allotment

Memorandum and Article Associations

Newspaper

Prospectus Azịza ziri ezi

Radio and television

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Stock Exchange (JAMB)

Stock Exchange

Lee Azịza

Ajụjụ 4 Ripọtì

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

commission

dividend

goodwill Azịza ziri ezi

interest

profit

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 5 Ripọtì

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

bulky

durable

fragile

inferior

perishable Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Lee Azịza

Ajụjụ 6 Ripọtì

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 Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)

Gụọ akwụkwọ nkuzi na Purchase And Sale Of Goods (JAMB)

Gụọ akwụkwọ nkuzi na Elements Of Marketing (JAMB)

Purchase And Sale Of Goods In Home And Foreign Trade

Purchase And Sale Of Goods

Elements Of Marketing

Lee Azịza

Ajụjụ 7 Ripọtì

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 Azịza ziri ezi

fire insurance

life assurance

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 8 Ripọtì

Gases are best transported by

air

canals

pipelines Azịza ziri ezi

rail

sea

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Lee Azịza

Ajụjụ 9 Ripọtì

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 Azịza ziri ezi

voucher

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Purchase And Sale Of Goods (JAMB)

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Gụọ akwụkwọ nkuzi na Trade (JAMB)

Purchase And Sale Of Goods

Commerce

Trade

Lee Azịza

Ajụjụ 10 Ripọtì

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

Chamber of Commerce Azịza ziri ezi

Economic Community of West African States

Lake-Chad Basin Commission

Niger Basin Commission

Trade Union

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Trade Associations (WAEC)

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Trade Associations

Commerce

Lee Azịza

Ajụjụ 11 Ripọtì

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

advertising

communication

insurance

marketing Azịza ziri ezi

personal selling

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Elements Of Marketing (JAMB)

Elements Of Marketing

Lee Azịza

Ajụjụ 12 Ripọtì

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

breach of contract Azịza ziri ezi

frustration

operational law

performance

voluntary agreement of the parties

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 13 Ripọtì

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

authorized capital

current liabilities

fixed assets

liquid capital

paid-up capital Azịza ziri ezi

Akọwa Nkọwa

Lee Azịza

Ajụjụ 14 Ripọtì

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 Azịza ziri ezi

choose

healthy environment

safety

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 15 Ripọtì

Bonded warehouses are controlled by

clearing and forwarding agents

custom and excise Azịza ziri ezi

export promotion council

marketing boards

port authority

Akọwa Nkọwa

Lee Azịza

Ajụjụ 16 Ripọtì

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

education and electricity

electricity only

essential services Azịza ziri ezi

loans for the people

roads and electricity

Akọwa Nkọwa

Lee Azịza

Ajụjụ 17 Ripọtì

The best definition of Communication in Commerce is

distribution of information

movement of files

movement of goods and passengers

storing information

transmission of information Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Lee Azịza

Ajụjụ 18 Ripọtì

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

Direct Services, Commercial and industrial Azịza ziri ezi

Manufacturer, Blacksmith and Industrial

Industrial, Manufacturing and Commercial

Teaching, Manufacturing and Commercial

Trading, Teaching and Commercial

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Occupation (JAMB)

Gụọ akwụkwọ nkuzi na Occupation (WAEC)

Occupation

Lee Azịza

Ajụjụ 19 Ripọtì

Which is a Public Monopoly?

John Holt Nigeria plc

Lever Brothers Nigeria plc

National Electric Power Authority Azịza ziri ezi

PZ Nigeria plc

United Africa Company Ltd

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Trade (WAEC)

Trade

Lee Azịza

Ajụjụ 20 Ripọtì

Who has no right of ownership to a business organization?

debenture holder Azịza ziri ezi

entrepreneur

partner

share-holder

sole proprietor

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Production (JAMB)

Gụọ akwụkwọ nkuzi na Occupation (JAMB)

Production

Occupation

Lee Azịza

Ajụjụ 21 Ripọtì

Another name for exchange of goods or other goods is called

barter Azịza ziri ezi

buying

credit

selling

specialization

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Trade (WAEC)

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Trade

Commerce

Lee Azịza

Ajụjụ 22 Ripọtì

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 Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Stock Exchange (JAMB)

Stock Exchange

Lee Azịza

Ajụjụ 23 Ripọtì

Aids to trade refers to

advertising, insurance, export and import

advertising, transport, banking, insurance and warehousing Azịza ziri ezi

banking, insurance and import only

insurance, trade, banking and retailer

trade, export, transport, advertising and import

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Aids-to-Trade (JAMB)

Aids-to-Trade

Lee Azịza

Ajụjụ 24 Ripọtì

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

indemnity

insurable interest Azịza ziri ezi

pooling of risks

subrogation

uberrimae tides

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Lee Azịza

Ajụjụ 25 Ripọtì

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 Azịza ziri ezi

providing employment opportunity to a few countries

providing essential services among members

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Economic Groupings (WAEC)

Economic Groupings

Lee Azịza

Ajụjụ 26 Ripọtì

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

commercialization

indigenization

nationalization Azịza ziri ezi

naturalization

privatization

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 27 Ripọtì

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 Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 28 Ripọtì

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 Azịza ziri ezi

leasing

trade-in sales

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Gụọ akwụkwọ nkuzi na Occupation (JAMB)

Commerce

Occupation

Lee Azịza

Ajụjụ 29 Ripọtì

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

authorized capital

current liabilities

fixed assets

liquid capital Azịza ziri ezi

paid-up capital

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Commerce

Lee Azịza

Ajụjụ 30 Ripọtì

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

commission

indemnity Azịza ziri ezi

interest

pooling risks

premium

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Lee Azịza

Ajụjụ 31 Ripọtì

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 Azịza ziri ezi

statement of account

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Purchase And Sale Of Goods (JAMB)

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Lee Azịza

Ajụjụ 32 Ripọtì

The fastest and most accurate means of passing information is

airmail letter

express letter

registered letter

telephone Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Lee Azịza

Ajụjụ 33 Ripọtì

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

consumer education Azịza ziri ezi

manufacturer's education

marketing education

producer‘s education

salesmanship

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Advertising (WAEC)

Gụọ akwụkwọ nkuzi na Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

Lee Azịza

Ajụjụ 34 Ripọtì

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

current account Azịza ziri ezi

deposit account

fixed deposit

savings account

time deposit

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Financing Business (JAMB)

Gụọ akwụkwọ nkuzi na Occupation (WAEC)

Financing Business

Occupation

Lee Azịza

Ajụjụ 35 Ripọtì

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

Cooperative Society

Partnership

Private Limited Company Azịza ziri ezi

Public Enterprise

Public Limited Company

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Business Units (WAEC)

Business Units

Lee Azịza

Ajụjụ 36 Ripọtì

What is NOT an essential element of a valid contract?

acceptance

compensation Azịza ziri ezi

consideration

legality

offer

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 37 Ripọtì

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

consumer orientation

marketing concept Azịza ziri ezi

market research

market segmentation

sales orientation

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Elements Of Marketing (JAMB)

Elements Of Marketing

Lee Azịza

Ajụjụ 38 Ripọtì

Which comes first in the channel of distribution?

consignor

consumer

manufacturer Azịza ziri ezi

retailer

wholesaler

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Production (WAEC)

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Gụọ akwụkwọ nkuzi na Occupation (JAMB)

Gụọ akwụkwọ nkuzi na Money (JAMB)

Gụọ akwụkwọ nkuzi na Business Units (WAEC)

Production

Commerce

Occupation

Money

Business Units

Lee Azịza

Ajụjụ 39 Ripọtì

Which holder receives interest?

cumulative preference

debenture Azịza ziri ezi

non-cumulative

ordinary share

preference shares

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Occupation (JAMB)

Occupation

Lee Azịza

Ajụjụ 40 Ripọtì

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 Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Trade (WAEC)

Gụọ akwụkwọ nkuzi na Business Capital And Profits (WAEC)

Trade

Business Capital And Profits

Lee Azịza

Ajụjụ 41 Ripọtì

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

capital

entrepreneur

labour Azịza ziri ezi

land

work

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Production (WAEC)

Gụọ akwụkwọ nkuzi na Occupation (WAEC)

Production

Occupation

Lee Azịza

Ajụjụ 42 Ripọtì

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

capital Azịza ziri ezi

convenience

giffen

industrial

specialty

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Production (WAEC)

Production

Lee Azịza

Ajụjụ 43 Ripọtì

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 Azịza ziri ezi

N5,175

N5,125

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Purchase And Sale Of Goods (JAMB)

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Lee Azịza

Ajụjụ 44 Ripọtì

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 Azịza ziri ezi

Deed

Prospectus

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Lee Azịza

Ajụjụ 45 Ripọtì

Which feature of money facilitates small transactions?

divisibility Azịza ziri ezi

durability

portability

recognisability

scarcity

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Money (JAMB)

Money

Lee Azịza

Ajụjụ 46 Ripọtì

Grouping consumers based on their purchasing habits is called market

development

expansion

orientation

segmentation Azịza ziri ezi

selection

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Elements Of Marketing (JAMB)

Elements Of Marketing

Lee Azịza

Ajụjụ 47 Ripọtì

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 Azịza ziri ezi

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Advertising (WAEC)

Gụọ akwụkwọ nkuzi na Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

Lee Azịza

Ajụjụ 48 Ripọtì

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

Central Bank of Nigeria Azịza ziri ezi

Federal Mortgage Bank of Nigeria

Nigerian Bank for Commerce and industry

National Bank of Nigeria

Nigeria Industrial Development Bank

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Commerce

Lee Azịza

Ajụjụ 49 Ripọtì

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

commercialization Azịza ziri ezi

indigenization

industrialization

nationalization

privatization

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Commerce (JAMB)

Commerce

Lee Azịza

Ajụjụ 50 Ripọtì

Marketing mix consists of

place, planning, play and price

planning, controlling and organizing

product, place, price and promotion Azịza ziri ezi

promotion, play, planning and price

price, planning, promotion and price

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Elements Of Marketing (JAMB)

Elements Of Marketing

Lee Azịza






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