Neco Commerce Past Questions and Answers

Question 76:

• NECO 2001

What is NOT the function of an entrepreneur?

A. Bearing risks
B. Deciding on tax to pay
C. Deciding what to produce
D. Organizing other factors
E. Providing initial capital

Question 77:

• NECO 2001

What is NOT an advantage of direct distribution of goods to the consumer by the manufacturer?

A. Closer contact market trends, etc.
B. Decrease in bad debts
C. Greater intensiveness of the sales campaign
D. No trading discounts need be allowed
E. Sales are more accurately and efficiently made to the consumer

Question 78:

• NECO 2001

A document which makes it obligatory on the part of the seller to supply the goods or services if the inquirer accepts the conditions stated therein is called Alan

A. Inquiry
B. Order
C. Invoice
D. Quotation
E. Receipt

Question 79:

• 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 80:

• 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