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Commerce Past Questions and Answers

Neco Commerce Questions

Question 236:

A bill of lading is best described as the _____________

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A Certificate of quality of goods
B Certificate of value for the goods on board
C Document of title to the goods on board a ship
D Document showing where the goods are going to
E Evidence of payment of custom duties

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Question 237:

Which of the following is NOT a function of the central bank?

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A Banker's bank
B Government's bank
C Lender of last resort
D Printing of currency
E Servicing of National debt

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Question 238:

A credit note is used to _____________

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A Inform the buyer that he can buy more goods on credit
B Inform the buyer that his account has been credited
C Inform the customer about his state of solvency
D Tell the customer that his account is in red
E Warn the customer that his debt is over due

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Question 239:

Which of the following is NOT an importance of warehousing?

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A Ensures that unexpected fluctuation in consumer’s needs are met through reserves
B Gives a feeling of security to the traders
C Protects goods against pilfering
D Provides for economy of scale by maintaining steady rate of production
E Provides protection and security for goods or products from going bad

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Question 240:

The concept that the satisfaction of the consumer's wants is to be emphasized at all stages of production and distribution is known as consumer _____________

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A Autonomy
B . independence
C Preferential
D Production
E Sovereignty

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