NECO SSCE - Commerce - 2004

Business transactions are usually based upon agreements known as

The insurance policy that specifically covers damage to structure or machinery of a ship is known as.......insurance.

The term “enterprise” denotes the ability to

In a private limited liability company shares can be transferred

A voluntary body formed by members of a particular branch of trade or industry to represent interest of members is known as

An industry whose major actors consists of those engaged in sourcing raw materials from the earth surface is known as .... industry.

Credit in business transaction is a. ......

Which of the following is NOT a function of the central bank?

The last link in the chain of distribution is the

Short-term loan to expand a business is provided by

The services offered by the following people .could be grouped under direct services. EXCEPT

Trade may be defined as

The right to retain possession of property of another until certain legitimate demands are satisfied is known as

In international trade, ...... is used to show the exact country where the goods are imported.

All are aids to Trade EXCEPT

Which of the following documents shows a summary of a complete sale which the supplier sends to the buyer?

All these are instruments of consumer protection EXCEPT

When manufacturers sell directly to consumers they have eliminated

The major divisions of commerce are

Brand name is used to

Which of the following is NOT an importance of warehousing?

Which of the following is a non-insurable risk

Kate insured her fancy store for losses arising from burglary. The store was later burnt down. Which insurance principle denied her compensation?

Who among the following assess goods on arrival at a port?

At an auction sale, an auctioneer acts as a/an..........

A bill of lading is best described as the

Department stores are usually located in

Profit in partnership is shared according to

Equity of a company is another name for....... shares.

In limited liability company, the liability of a member at the time of liquidation is limited to the amount of shares.

The value of money is measured by the

The excess value of all the assets of a business over the value of its liabilities is called

The prospectus of a company must include

A receipt is a/an

The drawer of a cheque is usually the

The full amount of capital which a company is authorized to raise is stated in the

The creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them is known as

Under utmost good faith as an insurance principle, a person must

The concept that the satisfaction of the consumer's wants is to be emphasized at all stages of production and distribution is known as consumer...........

A credit note is used to

Goods are given utility by

One way of restricting the quantity of goods which may be imported into a country is by

Which of the following best describes span of control

The organisation of petroleum exporting countries (OPEC) is an example of a/n......

Which of the following is NOT part of the documents to be submitted for the registration of companies?

A 'duty bill' is used to indicate whether the goods arriving a port are........

A business person who contracts to sell shares in the expectation of a fall in price is a