Neco Commerce Past Questions and Answers

Question 246:

• NECO 2005

The document which gives complete information about the goods sold is the ____________

A. Bill of exchange
B. Delivery note
C. Invoice
D. Order form
E. Quotation

Question 247:

• NECO 2005

A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling fora commission proportionate to the value of the transaction is called a ____________

A. Broker
B. Commissioned agent
C. Del-credere agent
D. Factor
E. Speculator

Question 248:

• NECO 2005

The Nigeria Enterprises promotion Decree brought about policy

A. Commercialization
B. Indigenization
C. Industrialization
D. Nationalization
E. Privatization

Question 249:

• NECO 2005

Departmental store, supermarket and chain store are examples of ____________

A. Large scale retailers
B. Large scale whole-salers
C. Medium scale producers
D. Small scale retailers
E. Small scale wholesalers

Question 250:

• NECO 2005

Gross profit can be calculated as ____________

A. Cost of good sold minus cost of goods available for sale
B. Cost of goods available for sales minus sale
C. Sales minus purchases
D. Sales minus cost of good sold
E. Sales minus closing stock