2020/2021 NECO Commerce Answers to Questions OBJ/Essay: Sure

2020/2021 NECO Commerce Answers to Questions OBJ/Essay. Are you among the candidates that Registered for The NECO 2020/2021 Exams and you are online googling NECO 2020 Commerce answers, NECO Commerce 2020, NECO Commerce expo, NECO 2020 commerce Runz, 2020 NECO answers to Commerce, NECO 2020 Answers? Your problem is solved as long as this page is involved. Keep reading.

NECO Commerce Answers to Questions, NECO Commerce Answers to OBJ/Essay, NECO 2020

2019 NECO Commerce Answers to Questions

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SEE ALSO, NECO GCE 2020 Mathematics Answers

NECO Commerce Objectives and Theory Answers 2020

The Following Are Sample Neco Objective Questions. They are likely Commerce questions for Neco 2020.

1. Income distribution, nature of natural resources, investment etc. forms part of —–business environment.
  • A. cultural
  • B. economic
  • C. political
  • D. social
  • E. technological
2. The fee for sending a telegram depends on the
  • A. number of lines contained by the message
  • B. number of words contained in the message
  • C. the security of the message
  • D. time it would take the message to reach its destination
  • E. urgency of the message
3. The combination of product, price,
  • A. consumer orientation
  • B. marketing concept
  • C. marketing mix
  • D. marker research
  • E. product mix

4. 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
Kolawole’s average stock is?

  • A. N9,000.00
  • B. N10, 000.00
  • C. N279,000.00
  • D. N280,000.00
  • E. N290,000.00
5. When the supplier changes a retailer for not returning empty packages, the supplier sends him a/an
  • A. advice note
  • B. consignment note
  • C. credit note
  • D. debit note
  • E. statement
6. 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

7. 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
8. The price of an item is N 300 with a trade discount of 20%, What is the selling price?
  • A. N180
  • B. N240
  • C. N300
  • D. N360
  • E. no option
9. A hire purchase transaction becomes a sale when the hirer
  • A. pays full cost of the goods
  • B. agrees with the hire purchase terms
  • C. takes possession of the goods
  • D. pays part of the instalments
10. An electronic system of communication which serves as the international information bank is called
  • A. an e-mail
  • B. a satellite
  • C. a telex
  • D. the Internet
11. Shares, stocks, government bonds trade in the stock exchange marks: are known as
  • A. debentures
  • B. gut-edged stocks
  • C. merchandises
  • D. securities
  • E. treasure bills
12. The practice of selling some goods below market price to attract more customers is known as
  • A. hoarding
  • B. loss leader
  • C. market sharing
  • D. profiteering
  • E. speculating
13. Shares that are fully paid can be converted into bulks known as
  • A. bonds
  • B. capital reserves
  • C. debentures
  • D. guilt-edged securities
  • E. stocks
14. Telecommunication services are provided by
  • A. Bureau De Change
  • B. Courier Services
  • C. Date Post
  • D. NIPOST
  • E. NITEL

15. 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
16. The process of passing information from one person to another in an organization is known as
  • A. communication
  • B. co-ordination
  • C. delegation
  • D. direction
  • E. Motivation
17. A financial document stating the reasons for making a payment and details of the payment is
  • A. bank draft
  • B. cash book
  • C. cheque
  • D. payslip
  • E. voucher
18.Another name for a foreign order is
  • A. catalogue
  • B. export
  • C. import
  • D. indent
  • E. quotation
19. Public debt management is one of the functions of a —– bank
  • A. central
  • B. commercial
  • C. development
  • D. industrial
  • E. merchant
20. Which of the following regards the consumer as king?
  • A. consumer behavior
  • B. marketing concept
  • C. market mix
  • D. pricing policy
  • E. product mix
21. The most suitable mode of transporting very bulky goods from Lagos to Kaduna is the
  • A. aero plane
  • B. caravan
  • C. lorry
  • D. ship
  • E. train
22. Adeleke places his vehicle for sale at N150,000,00 Ibrahim had agreed to pay the amount. In this Trans: Adeleke is the
  • A. agent
  • B. auctioneer
  • C. broker
  • D. offeree
  • E. offeror
23. The following are methods of quoting prices EXCEPT
  • A. A.C.I.F
  • B. F.A.S
  • C. F.O.B
  • D. L.O.C.O
  • E. E.O.E
24. The amount receivable by shareholders after the declaration of profit is called
  • A. bonus
  • B. commission
  • C. dividend
  • D. interest
  • E. premium
25. Which of the following is an invisible item of trade?
  • A. Banking Service
  • B. Petroleum Product
  • C. Processed Rice
  • D. Processed Milk
  • E. Processed Yam Flour

NECO Theory Questions and Answers

Below are likely NECO theory questions

  1. Distinguish between commerce and Industry
  2. Explain three activities involved in industry
  3. Explain five activities involved in commerce
  4. State five features of public corporation
  5. What is mail order business
  6. State 5 importance of personal selling to a business
  7. Explain the meaning of market segmentation
  8. Define Nationalism and Indigenization
  9. Define Commercialization and Privatization
  10. State four reasons why government should participate in business

How to Answer NECO 2020 Commerce  Questions

Student Looking for NECO Commerce Answers are advised to adopt the following

Proper Preparation

Preparation is the key to Success, anybody looking for any other way to pass NECO 2020 Commerce apart from good preparation is looking for a way to fail. seat tight and study your books and pass NECO Commerce can never be a problem to you.

Use Good Commerce Textbooks

There is nothing good as sound textbooks. The textbooks are your companion. Make good use of Commerce textbooks in addition to your class note and you will see yourself solving complex Commerce questions. One textbook is not enough, some textbooks make topics that seems to be hard in others simple. You are advised to make textbooks your companion.

Prayer

Pray is the key is the master key, never rely solely on your own effort, God is there to help you. Your prayer to the Almighty God will open the door of Success in your Exams. Believe in God your creator and all your problems is over.

Time Management

Time management is very important as long as NECO 2020 Commerce is concerned. Make sure you don’t waste time when attempting any question. Answer Questions You Know better before proceeding to try others. Be mindful of the time given and the number of questions you are to answer before the time elapses.

Adhere to instructions

Any candidate they refuse to adhere to the Examination Instructions is planning to fail. The instructions there are for you not for the invigilators. Adherence to instructions gives you a better chance of passing NECO Commerce 2020.

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