Expected Neco Exams 2020// Commerce

2020 NECO Commerce Questions & Answers Expected.

The Neco commerce answers 2020 for objective and essay questions can be seen here. The National Examination Council (NECO) School Certificate Examination candidates will write their Commerce paper on Wednesday, 21st October, 2020.

The Neco Commerce 2020 exam is for Paper III & II: Objective & Essay which will commence from 2.00 pm and end by 4.40 pm. In this post, we will be posting out samples of the Neco commerce questions for candidates that will participate in the examination.

PAPER II [Essay]
Answer any FOUR questions.
Write your answers on the answer booklet provided.

1. (a) With the aid of a diagram illustrate the branches of production.
(b) List and explain the three types of production. Give one example each.

2. (a) Differentiate between a contract of indemnity and a contract of non-indemnity.
(b) State five ways in which insurance is important to a business.

3. (a) Differentiate between balance of Trade and Balance of payment.
(b) Explain five functions of the Export Promotion Council.

4. Explain the following documents, stating the drawer, two contents and one use of each.
(i) Letter of enquiry
(ii) proforma invoices
(iii) quotation
(iv) debit note.

5. a) State five features of a co-operative society.
(b) Explain five disadvantages of a co-operative society.

6. (a) What is public relation?
(b) List and explain six methods of public relation.

7. (a) Explain the term clearing of cheques.
(b) Explain eight functions of a Commercial bank.

8. (a) State five duties of an agent to his principal.
(b) State five duties of a principal to his agent.

Section A [Objectives]
Answer ALL questions.
Shade your answers on the answer booklet provided.

1. What does the term commerce describe?
A aids to trade and direct services
B direct services and industry
C industry and trade
D trade and aids to trade.

2. Division of labour in a firm leads to
A diseconomies of scale.
B longer working hours for the workforce.
C standardisation of products.
D the workforce being multi-skilled.

3. Industry, commerce and direct services are all needed for production because
A they are dependent on each other.
B they exist to create specialisation.
C they provide services to each other.
D they sell goods to each other.

4. Which function is not performed by a retailer?
A displaying goods
B grading goods
C manufacturing goods
D supplying goods.

5. What is the main disadvantage of e-commerce to the customer?
A danger of credit card fraud
B power failure during a transaction
C retailer running out of stock of the items ordered
D wrong goods supplied by the retailer.

6. Many people obtain credit from their local shops.
What is this called?
A cash discount
B lay-by
C leasing
D overdraft.

7. Problems with faulty goods have led to the growth of
A consumer protection.
B insurance.
C mail order.
D persuasive advertising.

8. What is a disadvantage of rapid and accurate communication systems?
A ability to communicate one message to multiple addresses
B employees within a company are not linked using networks
C greater speed of communication between businesses in different countries
D increased cost and complexity of methods used.

9. What is an advantage of telephone communication in business?
A copies of documents may be transmitted
B messages can be corrected before transmission
C problems may be discussed
D visual contact is made.

10. Which methods of transport are most likely to be used to transport oil from Australia to
Singapore?
A canal and sea
B pipeline and sea
C rail and pipeline
D road and air.

11. What is an advantage of containerisation in sea transport?
A avoidance of customs duty
B carriage of one type of product at a time
C fast turnaround of ships at ports
D quick unpacking of goods at docks.

12. A washing machine manufacturer wishes to promote a newly-designed product.
Which advertising medium would reach the most consumers?
A cinema
B flyers
C radio
D television.

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