Neco Commerce 2001 Past Questions and Answers

Question 31:

• NECO 2001

What is NOT a function of a retailer?

A. Granting credit to consumers
B. Guiding the consumers in making their choices
C. Insuring goods for consumers
D. Paying personal attention to consumers
E. Providing goods wanted by the consumers

Question 32:

• NECO 2001

What is NOT a source of capital for a business?

A. Borrowing from somewhere
B. Issuing of dividend warrant
C. Retained profit
D. Issuing of shares
E. Personal savings

Question 33:

• NECO 2001

In which service will a sole trader NOT be found?

A. Business consultant
B. Electrician
C. Decorator
D. National Electric Power Authority
E. Surveyor

Question 34:

• NECO 2001

What is NOT a function of the chambers of commerce? They

A. Arbitrate and settle disputes among members
B. Collect and pass important information to all members and the general public
C. Consult and co-operate with government on matters of trade and industry
D. Make members aware of government policies concerning customs and regulations
E. Serve as media for the expression of the opinions of employers on matters relating to employment

Question 35:

• NECO 2001

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

A. Co-operative society
B. Industrial association
C. Manufacturers’ association
D. Trade and industry practitioners
E. Trade association