NECO Commerce Past Questions & Answers - Page 31

151.

Trade may be defined as

A.

buying and selling of goods

B.

buying and selling of goods and services

C.

distribution goods

D.

production of goods

E.

selling of goods and services

Correct answer is B

No explanation has been provided for this answer.

152.

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

A.

advertising

B.

distributing

C.

marketing

D.

planning

E.

trading

Correct answer is C

No explanation has been provided for this answer.

153.

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

A.

bill of lading

B.

certificate of origin

C.

consular invoice

D.

dock receipt

E.

shipping note

Correct answer is B

No explanation has been provided for this answer.

154.

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

A.

compliment to a good customer

B.

form of loan

C.

means of saving money

D.

prepayment by customers

E.

rebate for large purchases

Correct answer is B

No explanation has been provided for this answer.

155.

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

A.

commercial

B.

construction

C.

extractive

D.

manufacturing

E.

mining

Correct answer is C

No explanation has been provided for this answer.