NECO Commerce Past Questions & Answers - Page 21

101.

Which of these means of payment originates from a creditor?

A.

Bill of exchange

B.

Cheque

C.

Coins and currencies

D.

Promissory note

E.

Standing order

Correct answer is E

No explanation has been provided for this answer.

102.

Commerce is often referred to as the life blood of every nation because it

A.

commits financial resources to the nation

B.

contributes to economic development to the nation

C.

creates utilities for human satisfaction

D.

provides auxiliary services to trade

E.

provides all the resources use for production

Correct answer is C

No explanation has been provided for this answer.

103.

A dealer who buys securities at low prices in anticipation of reselling them at higher prices is called a

A.

bear

B.

broker

C.

bull

D.

jobber

E.

speculator

Correct answer is D

No explanation has been provided for this answer.

104.

The following are functions of marketing EXCEPT

A.

advertising

B.

distribution

C.

insurance

D.

packaging

E.

transportation

Correct answer is C

No explanation has been provided for this answer.

105.

Which of these is NOT a governments legislation to protect thee consumer?

A.

Fair trading

B.

Foods and drugs

C.

Privatization and commercialization

D.

Weight and measure

E.

Trade description

Correct answer is C

No explanation has been provided for this answer.