Neco Commerce Past Questions and Answers

Question 36:

• NECO 2000

The relationship between a country’s visible imports and exports in a trading year is known as ____________

A. Balance of payment
B. Balance of trade
C. Counter trade
D. International trade
E. Terms of trade

Question 37:

• NECO 2000

When the price quoted includes all the cost to the actual destination, that is, from the seller’s warehouse to the buyer’s warehouse. it is called ____________

A. Carriage
B. Carriage paid
C. Cash on delivery
D. Franco
E. Loco price

Question 38:

• NECO 2000

The service rendered by NIPOST in which letters are addressed to any post office to await collection by the addressee is known as ____________

A. Business reply service
B. Cash on delivery service
C. Express mail service
D. Free post service
E. Posted restate service

Question 39:

• NECO 2000

Fishing is an example of ____________

A. Construction industry
B. Direct services
C. Extractive industry
D. Manufacturing industry
E. Tertiary industry

Question 40:

• NECO 2000

Obi received a cheque for N1000 from Mr. Ade and this cheque was stolen. He must

A. Inform his bank to stop payment
B. Inform Mr. Ade to tell his bank to stop payment
C. Simply ask Mr. Ade for another cheque
D. Tell his bank to add the amount to his bank balance
E. Wait until the cheque is found