Commerce 2005 Neco Past Questions and Answers

Question 36 :

• NECO 2005

Tariff can be defined as a compulsory levy on ____________

A. Foreign exchange earnings
B. Foreigners working in Nigeria
C. Imported goods only
D. Import and export
E. Substitutes and inferior goods

Question 37 :

• NECO 2005

Bonded warehouse is controlled and supervised by ____________

A. Customs
B. Immigration
C. Navy
D. Police
E. Quarantine

Question 38 :

• NECO 2005

Association of people in the same line of business is known as ____________

A. Chambers of commerce
B. Holding company
C. Monopolistic association
D. Producers association
E. Trade association

Question 39 :

• NECO 2005

The most important document an importer requires to be able to clear his goods from the harbour is ____________

A. Bill of exchange
B. Bill of lading
C. Bill of sale
D. Invoice from the shopper
E. Marine insurance

Question 40 :

• NECO 2005

The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is ____________

A. Advice note
B. Credit note
C. Debt note
D. Invoice
E. Pro-forma invoice