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Saturday, 25 April 2026
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Commerce Past Questions and Answers

Neco Commerce Questions

Question 266:
Commerce is often referred to as the life blood of every nation because it ____________
  • A Commits financial resources to the nation
  • B Contributes to economic development to the nation
  • C Creates utilities for human satisfaction
  • D Provides auxiliary services to trade
  • E Provides all the resources use for production
View Answer & Explanation
Question 267:
Which of these means of payment originates from a creditor?
  • A Bill of exchange
  • B Cheque
  • C Coins and currencies
  • D Promissory note
  • E Standing order
View Answer & Explanation
Question 268:
One of the easiest means of transporting petroleum product is by ____________
  • A Air
  • B Pipeline
  • C Rail
  • D Road
  • E Sea
View Answer & Explanation
Question 269:
Transfer of ownership of goods sold under Hire Purchase System takes place when ____________ paid.
  • A A deposit is
  • B A quarter of the total price is
  • C Half of the total price is
  • D The final instalment is
  • E Two instalment have been
View Answer & Explanation
Question 270:
The most common form of business unit in West Africa is ____________
  • A Co-operative society
  • B Joint stock company
  • C Partnership
  • D Public corporation
  • E Sole proprietor-ship
View Answer & Explanation