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Commerce 2004 NECO Past Questions

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1
The excess value of all the assets of a business over the value of its liabilities is called
  • A. capital employed
  • B. capital owned
  • C. circulating capital
  • D. loan capital
  • E. share capital
View Answer & Discuss NECO 2004
2
A bill of lading is best described as the
  • 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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3
Which of the following is NOT a function of the central bank?
  • A. Banker's bank
  • B. Government's bank
  • C. Lender of last resort
  • D. Printing of currency
  • E. Servicing of National debt
View Answer & Discuss (1) NECO 2004
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4
A credit note is used to
  • 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
View Answer & Discuss (1) NECO 2004
5
Which of the following is NOT an importance of warehousing?
  • 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
View Answer & Discuss NECO 2004
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