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Commerce Past Questions and Answers

Neco Commerce Questions

Question 6:

A tax paid on goods manufactured and consumed in your country is called ____________

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A Consumer tax
B Custom duty
C Excise duty
D Goods tax
E Income tax

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Question 7:

The breaking down of work into different processes is known as ____________

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A Division of labour
B Exchange
C Production
D Specialization
E Working party

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Question 8:

The main objective of nationalization of industries is to ____________

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A Bring an Industry under state ownership and control
B Make more profit for the government
C Prevent all aliens from taking part in the business activities of a country
D Prevent existing firms from liquidation
E Provide sources for additional capital for government

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Question 9:

The rights of the consumers does NOT include ____________

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A The right to be informed
B The right to choose
C The right to fix prices
D The right to a healthy environment
E The right to safety

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Question 10:

Which of the following does a seller send in reply to a letter of inquiry?

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A Advice note
B Credit note
C Debit note
D Delivery note
E Quotation

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