Neco Commerce 2007 Past Questions and Answers

Question 31:

• NECO 2007

Use the following information to answer question

Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
Cost of goods sold is ____________

A. N180,000.00
B. N227,000.00
C. N279,000.00
D. N290,000.00
E. N301,000.00

Question 32:

• NECO 2007

Which of the following is NOT a function of Commerce?

A. Assisting Companies in raise capital
B. Assisting in transporting men and materials to production points
C. Extracting goods for further production and processing
D. Storing goods until they are needed
E. Offering employment opportunities to a large number of people

Question 33:

• NECO 2007

In which order are the following documents used?

I. Enquiry
II. Delivery note
III. Order
IV. Invoice
V. Quotation

A. I, II, III, IV and V
B. I, V, III, IV and II
C. II, I, IV, III and V
D. III, II, V, I and IV
E. V, IV, I, III and II

Question 34:

• NECO 2007

The final stage in the production process is ____________

A. Consumption
B. Manufacturing
C. Retailing
D. Warehousing
E. Wholesaling

Question 35:

• NECO 2007

The department responsible for recruitment and promotion of staff is ____________

A. Finance
B. Legal
C. Personnel
D. Production
E. Purchases