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 Jibu sahihi

contango

making- up

name

ticket

Maelezo ya Majibu

Soma maelezo ya somo kwenye Stock Exchange (JAMB)

Stock Exchange

Tazama Jibu

Swali 19 Ripoti

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 Jibu sahihi

term

whole life

Maelezo ya Majibu

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Trade (JAMB)

Commerce

Trade

Tazama Jibu

Swali 20 Ripoti

National income is

excess on balance of payment

excess on balance of trade

income gotten from international trade

money value of goods and services produced in a given period Jibu sahihi

revenue available to the government

Maelezo ya Majibu

Soma maelezo ya somo kwenye Government Policies Relating To Business (WAEC)

Soma maelezo ya somo kwenye Business Environment And Social Responsibility (JAMB)

Soma maelezo ya somo kwenye Commerce (JAMB)

Government Policies Relating To Business

Business Environment And Social Responsibility

Commerce

Tazama Jibu

Swali 21 Ripoti

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 Jibu sahihi

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

Maelezo ya Majibu

Soma maelezo ya somo kwenye Purchase And Sale Of Goods (JAMB)

Soma maelezo ya somo kwenye Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Tazama Jibu

Swali 22 Ripoti

What is NOT a means of Central Bank’s controlling the credit policy of commercial banks?

banker's bank

bank rate

cash /liquidity ratio

funding operations Jibu sahihi

open market operations

Maelezo ya Majibu

Soma maelezo ya somo kwenye Financing Business (JAMB)

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Production (JAMB)

Soma maelezo ya somo kwenye Money (JAMB)

Financing Business

Commerce

Production

Money

Tazama Jibu

Swali 23 Ripoti

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 Jibu sahihi

Maelezo ya Majibu

Tazama Jibu

Swali 24 Ripoti

The reward of capital as a factor of production is

dividend

interest Jibu sahihi

profit

rent

wages

Maelezo ya Majibu

Tazama Jibu

Swali 25 Ripoti

What is an aim of a trade association?

protection of members’ interests Jibu sahihi

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

Maelezo ya Majibu

Soma maelezo ya somo kwenye Trade Associations (WAEC)

Soma maelezo ya somo kwenye Commerce (JAMB)

Trade Associations

Commerce

Tazama Jibu

Swali 26 Ripoti

What is NOT a lecture of a co-operative society?

banks easily lend money to them

it is a corporate body with a right to sue and be sued Jibu sahihi

members have to buy shares to form the initial capital

members have equal opportunity in the control of the society

there is no liability after shareholding is fully paid

Maelezo ya Majibu

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Occupation (WAEC)

Commerce

Occupation

Tazama Jibu

Swali 27 Ripoti

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 Jibu sahihi

invoice

quotation

receipt

Maelezo ya Majibu

Soma maelezo ya somo kwenye Purchase And Sale Of Goods (JAMB)

Soma maelezo ya somo kwenye Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Tazama Jibu

Swali 28 Ripoti

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

corporation

industrialization

nationalization Jibu sahihi

participation

privatization

Maelezo ya Majibu

Tazama Jibu

Swali 29 Ripoti

Which of NOT a class of preference shares?

cumulative

debenture Jibu sahihi

. non-cumulative

participating

redeemable

Maelezo ya Majibu

Tazama Jibu

Swali 30 Ripoti

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

5 Jibu sahihi

5.3

5.4

5.7

Maelezo ya Majibu

Soma maelezo ya somo kwenye Commerce (JAMB)

Commerce

Tazama Jibu

Swali 31 Ripoti

What is NOT a function of a retailer?

granting credit to consumers

guiding the consumers in making their choices

insuring goods for consumers Jibu sahihi

paying personal attention to consumers

providing goods wanted by the consumers

Maelezo ya Majibu

Tazama Jibu

Swali 32 Ripoti

The Articles of Association of a company do NOT contain

a method of dealing with any alterations in the amount of capital Jibu sahihi

a method of sharing profits and the payment of dividends

a procedure for calling general meeting/method of voting

the amount of the authorized capital, showing its division into shares

the issue, transfer and forfeiture of shares

Maelezo ya Majibu

Soma maelezo ya somo kwenye Legal Aspects Of Business (JAMB)

Soma maelezo ya somo kwenye Legal Aspect Of Business (WAEC)

Legal Aspects Of Business

Legal Aspect Of Business

Tazama Jibu

Swali 33 Ripoti

.
C.
ln which business is profit shared amongst the shareholders on the basis of patronage?

co-operative society Jibu sahihi

joint stock company

partnership

public company

sole proprietorship

Maelezo ya Majibu

Soma maelezo ya somo kwenye Business Capital And Profits (WAEC)

Soma maelezo ya somo kwenye Occupation (JAMB)

Business Capital And Profits

Occupation

Tazama Jibu

Swali 34 Ripoti

A syndicate is an/a

association formed by the joining together of firms which were previously independent

association of firms at the same stage of production, formed for the purpose of keeping up prices Jibu sahihi

association of firms for the regulation of output and prices

combination of firm which carry on the same kind of business such as retailing

company that controls one or more other companies by holding majority of their shares

Maelezo ya Majibu

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Production (JAMB)

Soma maelezo ya somo kwenye Occupation (JAMB)

Commerce

Production

Occupation

Tazama Jibu

Swali 35 Ripoti

Dealing on the Stock Exchange may be either

‘for cash or ‘for hire’

‘for jobber’ or 'for broker’

'for cash' or 'for account

‘for cash’ or‘ for credit’ Jibu sahihi

‘for bull’ or ‘ for bear’

Maelezo ya Majibu

Soma maelezo ya somo kwenye Stock Exchange (JAMB)

Stock Exchange

Tazama Jibu

Swali 36 Ripoti

Which union is formed by the workers of firms of similar line of business to cater for their interests?

co-operative

employees

firms

trade Jibu sahihi

welfare

Maelezo ya Majibu

Soma maelezo ya somo kwenye Trade (WAEC)

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Occupation (WAEC)

Trade

Commerce

Occupation

Tazama Jibu

Swali 37 Ripoti

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 Jibu sahihi

summation of goods sold to a customer for a particular item

Maelezo ya Majibu

Tazama Jibu

Swali 38 Ripoti

ln partnership business, the maximum number of persons for its formation is

five

fifteen

ten

twenty Jibu sahihi

twenty five

Maelezo ya Majibu

Soma maelezo ya somo kwenye Occupation (JAMB)

Occupation

Tazama Jibu

Swali 39 Ripoti

Which is NOT a public corporation?

National Electric Power Authority

National Examinations Council Jibu sahihi

Nigerian Airways

Nigerian Railway

Ports Authority

Maelezo ya Majibu

Soma maelezo ya somo kwenye Advertising (WAEC)

Soma maelezo ya somo kwenye Production (WAEC)

Soma maelezo ya somo kwenye Occupation (JAMB)

Soma maelezo ya somo kwenye Occupation (WAEC)

Advertising

Production

Occupation

Tazama Jibu

Swali 40 Ripoti

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 Jibu sahihi

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

Maelezo ya Majibu

Soma maelezo ya somo kwenye Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Tazama Jibu

Swali 41 Ripoti

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 Jibu sahihi