Neco Commerce Past Questions and Answers

Question 266:

• NECO 2005

Commerce is often referred to as the life blood of every nation because it ____________

A. Commits financial resources to the nation
B. Contributes to economic development to the nation
C. Creates utilities for human satisfaction
D. Provides auxiliary services to trade
E. Provides all the resources use for production

Question 267:

• NECO 2005

Which of these means of payment originates from a creditor?

A. Bill of exchange
B. Cheque
C. Coins and currencies
D. Promissory note
E. Standing order

Question 268:

• NECO 2005

One of the easiest means of transporting petroleum product is by ____________

A. Air
B. Pipeline
C. Rail
D. Road
E. Sea

Question 269:

• NECO 2005

Transfer of ownership of goods sold under Hire Purchase System takes place when ____________ paid.

A. A deposit is
B. A quarter of the total price is
C. Half of the total price is
D. The final instalment is
E. Two instalment have been

Question 270:

• NECO 2005

The most common form of business unit in West Africa is ____________

A. Co-operative society
B. Joint stock company
C. Partnership
D. Public corporation
E. Sole proprietor-ship