NECO SSCE - Commerce - 2002 (Objective)

Ibeere 1 Ìròyìn

The fastest and most accurate means of passing information is

airmail letter

express letter

registered letter

telephone Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Wo Idahun

Ibeere 2 Ìròyìn

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 Ìdáhùn tó tọ́

Deed

Prospectus

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 3 Ìròyìn

Marketing mix consists of

place, planning, play and price

planning, controlling and organizing

product, place, price and promotion Ìdáhùn tó tọ́

promotion, play, planning and price

price, planning, promotion and price

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Elements Of Marketing (JAMB)

Elements Of Marketing

Wo Idahun

Ibeere 4 Ìròyìn

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

commission

indemnity Ìdáhùn tó tọ́

interest

pooling risks

premium

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Wo Idahun

Ibeere 5 Ìròyìn

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

courier services Ìdáhùn tó tọ́

express letters

parcels

quick delivery

registered letters

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Transport, Tourism, Communication And Warehousing (WAEC)

Ka ìwé ẹ̀kọ́ nípa Occupation (JAMB)

Transport, Tourism, Communication And Warehousing

Occupation

Wo Idahun

Ibeere 6 Ìròyìn

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

consumer education Ìdáhùn tó tọ́

manufacturer's education

marketing education

producer‘s education

salesmanship

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Advertising (WAEC)

Ka ìwé ẹ̀kọ́ nípa Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

Wo Idahun

Ibeere 7 Ìròyìn

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 Ìdáhùn tó tọ́

choose

healthy environment

safety

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 8 Ìròyìn

Who has no right of ownership to a business organization?

debenture holder Ìdáhùn tó tọ́

entrepreneur

partner

share-holder

sole proprietor

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Production (JAMB)

Ka ìwé ẹ̀kọ́ nípa Occupation (JAMB)

Production

Occupation

Wo Idahun

Ibeere 9 Ìròyìn

The best definition of Communication in Commerce is

distribution of information

movement of files

movement of goods and passengers

storing information

transmission of information Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Wo Idahun

Ibeere 10 Ìròyìn

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

education and electricity

electricity only

essential services Ìdáhùn tó tọ́

loans for the people

roads and electricity

Awọn alaye Idahun

Wo Idahun

Ibeere 11 Ìròyìn

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

Chamber of Commerce Ìdáhùn tó tọ́

Economic Community of West African States

Lake-Chad Basin Commission

Niger Basin Commission

Trade Union

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Trade Associations (WAEC)

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Trade Associations

Commerce

Wo Idahun

Ibeere 12 Ìròyìn

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

authorized capital

current liabilities

fixed assets

liquid capital

paid-up capital Ìdáhùn tó tọ́

Awọn alaye Idahun

Wo Idahun

Ibeere 13 Ìròyìn

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

Letter of Allotment

Memorandum and Article Associations

Newspaper

Prospectus Ìdáhùn tó tọ́

Radio and television

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Stock Exchange (JAMB)

Stock Exchange

Wo Idahun

Ibeere 14 Ìròyìn

Grouping consumers based on their purchasing habits is called market

development

expansion

orientation

segmentation Ìdáhùn tó tọ́

selection

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Elements Of Marketing (JAMB)

Elements Of Marketing

Wo Idahun

Ibeere 15 Ìròyìn

Another name for exchange of goods or other goods is called

barter Ìdáhùn tó tọ́

buying

credit

selling

specialization

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Trade (WAEC)

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Trade

Commerce

Wo Idahun

Ibeere 16 Ìròyìn

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 Ìdáhùn tó tọ́

fire insurance

life assurance

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 17 Ìròyìn

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

capital

entrepreneur

labour Ìdáhùn tó tọ́

land

work

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Production (WAEC)

Ka ìwé ẹ̀kọ́ nípa Occupation (WAEC)

Production

Occupation

Wo Idahun

Ibeere 18 Ìròyìn

Which comes first in the channel of distribution?

consignor

consumer

manufacturer Ìdáhùn tó tọ́

retailer

wholesaler

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Production (WAEC)

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Ka ìwé ẹ̀kọ́ nípa Occupation (JAMB)

Ka ìwé ẹ̀kọ́ nípa Money (JAMB)

Ka ìwé ẹ̀kọ́ nípa Business Units (WAEC)

Production

Commerce

Occupation

Money

Business Units

Wo Idahun

Ibeere 19 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Trade (WAEC)

Ka ìwé ẹ̀kọ́ nípa Business Capital And Profits (WAEC)

Trade

Business Capital And Profits

Wo Idahun

Ibeere 20 Ìròyìn

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

commercialization

indigenization

nationalization Ìdáhùn tó tọ́

naturalization

privatization

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 21 Ìròyìn

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

Cooperative Society

Partnership

Private Limited Company Ìdáhùn tó tọ́

Public Enterprise

Public Limited Company

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Business Units (WAEC)

Business Units

Wo Idahun

Ibeere 22 Ìròyìn

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

current account Ìdáhùn tó tọ́

deposit account

fixed deposit

savings account

time deposit

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Financing Business (JAMB)

Ka ìwé ẹ̀kọ́ nípa Occupation (WAEC)

Financing Business

Occupation

Wo Idahun

Ibeere 23 Ìròyìn

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

Direct Services, Commercial and industrial Ìdáhùn tó tọ́

Manufacturer, Blacksmith and Industrial

Industrial, Manufacturing and Commercial

Teaching, Manufacturing and Commercial

Trading, Teaching and Commercial

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Occupation (JAMB)

Ka ìwé ẹ̀kọ́ nípa Occupation (WAEC)

Occupation

Wo Idahun

Ibeere 24 Ìròyìn

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

capital Ìdáhùn tó tọ́

convenience

giffen

industrial

specialty

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Production (WAEC)

Production

Wo Idahun

Ibeere 25 Ìròyìn

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

indemnity

insurable interest Ìdáhùn tó tọ́

pooling of risks

subrogation

uberrimae tides

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Wo Idahun

Ibeere 26 Ìròyìn

Aids to trade refers to

advertising, insurance, export and import

advertising, transport, banking, insurance and warehousing Ìdáhùn tó tọ́

banking, insurance and import only

insurance, trade, banking and retailer

trade, export, transport, advertising and import

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Aids-to-Trade (JAMB)

Aids-to-Trade

Wo Idahun

Ibeere 27 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)

Ka ìwé ẹ̀kọ́ nípa Purchase And Sale Of Goods (JAMB)

Ka ìwé ẹ̀kọ́ nípa Elements Of Marketing (JAMB)

Purchase And Sale Of Goods In Home And Foreign Trade

Purchase And Sale Of Goods

Elements Of Marketing

Wo Idahun

Ibeere 28 Ìròyìn

Bonded warehouses are controlled by

clearing and forwarding agents

custom and excise Ìdáhùn tó tọ́

export promotion council

marketing boards

port authority

Awọn alaye Idahun

Wo Idahun

Ibeere 29 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 30 Ìròyìn

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 Ìdáhùn tó tọ́

statement of account

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Purchase And Sale Of Goods (JAMB)

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Wo Idahun

Ibeere 31 Ìròyìn

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 Ìdáhùn tó tọ́

providing employment opportunity to a few countries

providing essential services among members

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Economic Groupings (WAEC)

Economic Groupings

Wo Idahun

Ibeere 32 Ìròyìn

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

authorized capital

current liabilities

fixed assets

liquid capital Ìdáhùn tó tọ́

paid-up capital

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Commerce

Wo Idahun

Ibeere 33 Ìròyìn

Which is a Public Monopoly?

John Holt Nigeria plc

Lever Brothers Nigeria plc

National Electric Power Authority Ìdáhùn tó tọ́

PZ Nigeria plc

United Africa Company Ltd

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Trade (WAEC)

Trade

Wo Idahun

Ibeere 34 Ìròyìn

What is NOT an essential element of a valid contract?

acceptance

compensation Ìdáhùn tó tọ́

consideration

legality

offer

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 35 Ìròyìn

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

commission

dividend

goodwill Ìdáhùn tó tọ́

interest

profit

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 36 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 37 Ìròyìn

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

Central Bank of Nigeria Ìdáhùn tó tọ́

Federal Mortgage Bank of Nigeria

Nigerian Bank for Commerce and industry

National Bank of Nigeria

Nigeria Industrial Development Bank

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Commerce

Wo Idahun

Ibeere 38 Ìròyìn

Gases are best transported by

air

canals

pipelines Ìdáhùn tó tọ́

rail

sea

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Wo Idahun

Ibeere 39 Ìròyìn

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 Ìdáhùn tó tọ́

voucher

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Purchase And Sale Of Goods (JAMB)

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Ka ìwé ẹ̀kọ́ nípa Trade (JAMB)

Purchase And Sale Of Goods

Commerce

Trade

Wo Idahun

Ibeere 40 Ìròyìn

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

advertising

communication

insurance

marketing Ìdáhùn tó tọ́

personal selling

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Elements Of Marketing (JAMB)

Elements Of Marketing

Wo Idahun

Ibeere 41 Ìròyìn

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

breach of contract Ìdáhùn tó tọ́

frustration

operational law

performance

voluntary agreement of the parties

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Wo Idahun

Ibeere 42 Ìròyìn

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 Ìdáhùn tó tọ́

leasing

trade-in sales

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Ka ìwé ẹ̀kọ́ nípa Occupation (JAMB)

Commerce

Occupation

Wo Idahun

Ibeere 43 Ìròyìn

Which feature of money facilitates small transactions?

divisibility Ìdáhùn tó tọ́

durability

portability

recognisability

scarcity

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Money (JAMB)

Money

Wo Idahun

Ibeere 44 Ìròyìn

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

consumer orientation

marketing concept Ìdáhùn tó tọ́

market research

market segmentation

sales orientation

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Elements Of Marketing (JAMB)

Elements Of Marketing

Wo Idahun

Ibeere 45 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Stock Exchange (JAMB)

Stock Exchange

Wo Idahun

Ibeere 46 Ìròyìn

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

commercialization Ìdáhùn tó tọ́

indigenization

industrialization

nationalization

privatization

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Commerce

Wo Idahun

Ibeere 47 Ìròyìn

Which holder receives interest?

cumulative preference

debenture Ìdáhùn tó tọ́

non-cumulative

ordinary share

preference shares

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Occupation (JAMB)

Occupation

Wo Idahun

Ibeere 48 Ìròyìn

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

bulky

durable

fragile

inferior

perishable Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

Wo Idahun

Ibeere 49 Ìròyìn

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 Ìdáhùn tó tọ́

N5,175

N5,125

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Purchase And Sale Of Goods (JAMB)

Ka ìwé ẹ̀kọ́ nípa Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Wo Idahun

Ibeere 50 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Advertising (WAEC)

Ka ìwé ẹ̀kọ́ nípa Elements Of Marketing (JAMB)

Advertising

Elements Of Marketing

Wo Idahun






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