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Saturday, 25 April 2026
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Commerce Past Questions and Answers

Neco Commerce Questions

Question 246:
The document which gives complete information about the goods sold is the ____________
  • A Bill of exchange
  • B Delivery note
  • C Invoice
  • D Order form
  • E Quotation
View Answer & Explanation
Question 247:
A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling fora commission proportionate to the value of the transaction is called a ____________
  • A Broker
  • B Commissioned agent
  • C Del-credere agent
  • D Factor
  • E Speculator
View Answer & Explanation
Question 248:
The Nigeria Enterprises promotion Decree brought about policy
  • A Commercialization
  • B Indigenization
  • C Industrialization
  • D Nationalization
  • E Privatization
View Answer & Explanation
Question 249:
Departmental store, supermarket and chain store are examples of ____________
  • A Large scale retailers
  • B Large scale whole-salers
  • C Medium scale producers
  • D Small scale retailers
  • E Small scale wholesalers
View Answer & Explanation
Question 250:
Gross profit can be calculated as ____________
  • A Cost of good sold minus cost of goods available for sale
  • B Cost of goods available for sales minus sale
  • C Sales minus purchases
  • D Sales minus cost of good sold
  • E Sales minus closing stock
View Answer & Explanation