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What NECO Sets In Commerce And Hot Topics

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NECO Commerce: What are the areas Neco will set Commerce questions from and how do I get NECO commerce 2023 OBJ and theory questions answered correctly in the exam hall? Neco Commerce Questions is our topic of today.

NECO Commerce is compulsory for every Neco Art Student. Continue reading for Sample Questions Neco would set in 2023 Commerce or Check Neco 2023 Commerce Syllabus.

NECO Commerce Questions And Answers

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You have asked the questions, what are the areas Neco sets questions in Commerce? I am here to give you the bold answers to your question.

To make this topic easy for you to understand, I will divide it into three sections. The three sections are:

  1. NECO 2023 Commerce Objective Questions
  2. Neco Commerce Theory Questions And Answers.
  3. Instructions To Pass Neco.

Now that you are familiar with the various areas Commerce Neco Questions will come from, the next thing is to know exactly what Neco will ask from these areas in Neco.

NECO Commerce Objective Questions

As usual, you will be given questions and options A to E to choose from. Normally, the number of objective questions (OBJ) you are to answer in Neco Commerce is 50.

The Following Are Sample Neco Objective Questions. They are likely Commerce questions for Neco 2023.

1. Income distribution, nature of natural resources, investment etc. forms part of —–business environment.
  • A. cultural
  • B. economic
  • C. political
  • D. social
  • E. technological
2. The fee for sending a telegram depends on the
  • A. number of lines contained by the message
  • B. number of words contained in the message
  • C. the security of the message
  • D. time it would take the message to reach its destination
  • E. urgency of the message
3. The combination of product, price,
  • A. consumer orientation
  • B. marketing concept
  • C. marketing mix
  • D. marker research
  • E. product mix

4. Use the following information to answer question

Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
Kolawole’s average stock is?

  • A. N9,000.00
  • B. N10, 000.00
  • C. N279,000.00
  • D. N280,000.00
  • E. N290,000.00
5. When the supplier changes a retailer for not returning empty packages, the supplier sends him a/an
  • A. advice note
  • B. consignment note
  • C. credit note
  • D. debit note
  • E. statement
6. Which of the following is NOT a function of Commerce?
  • A. Assisting Companies in raise capital
  • B. Assisting in transporting men and materials to production points
  • C. Extracting goods for further production and processing
  • D. Storing goods until they are needed
  • E. Offering employment opportunities to a large number of people

7. In which order are the following documents used?

I. Enquiry
II. Delivery note
III. Order
IV. Invoice
V. Quotation

  • A. I, II, III, IV and V
  • B. I, V, III, IV and II
  • C. II, I, IV, III and V
  • D. III, II, V, I and IV
  • E. V, IV, I, III and II
8. The price of an item is N 300 with a trade discount of 20%, What is the selling price?
  • A. N180
  • B. N240
  • C. N300
  • D. N360
  • E. no option
9. A hire purchase transaction becomes a sale when the hirer
  • A. pays full cost of the goods
  • B. agrees with the hire purchase terms
  • C. takes possession of the goods
  • D. pays part of the instalments
10. An electronic system of communication which serves as the international information bank is called
  • A. an e-mail
  • B. a satellite
  • C. a telex
  • D. the Internet
11. Shares, stocks, government bonds trade in the stock exchange marks: are known as
  • A. debentures
  • B. gut-edged stocks
  • C. merchandises
  • D. securities
  • E. treasure bills
12. The practice of selling some goods below market price to attract more customers is known as
  • A. hoarding
  • B. loss leader
  • C. market sharing
  • D. profiteering
  • E. speculating
13. Shares that are fully paid can be converted into bulks known as
  • A. bonds
  • B. capital reserves
  • C. debentures
  • D. guilt-edged securities
  • E. stocks
14. Telecommunication services are provided by
  • A. Bureau De Change
  • B. Courier Services
  • C. Date Post
  • D. NIPOST
  • E. NITEL

15. Use the following information to answer question

Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
Cost of goods sold is

  • A. N180,000.00
  • B. N227,000.00
  • C. N279,000.00
  • D. N290,000.00
  • E. N301,000.00
16. The process of passing information from one person to another in an organization is known as
  • A. communication
  • B. co-ordination
  • C. delegation
  • D. direction
  • E. Motivation
17. A financial document stating the reasons for making a payment and details of the payment is
  • A. bank draft
  • B. cash book
  • C. cheque
  • D. payslip
  • E. voucher
18.Another name for a foreign order is
  • A. catalogue
  • B. export
  • C. import
  • D. indent
  • E. quotation
19. Public debt management is one of the functions of a —– bank
  • A. central
  • B. commercial
  • C. development
  • D. industrial
  • E. merchant
20. Which of the following regards the consumer as king?
  • A. consumer behavior
  • B. marketing concept
  • C. market mix
  • D. pricing policy
  • E. product mix
21. The most suitable mode of transporting very bulky goods from Lagos to Kaduna is the
  • A. aero plane
  • B. caravan
  • C. lorry
  • D. ship
  • E. train
22. Adeleke places his vehicle for sale at N150,000,00 Ibrahim had agreed to pay the amount. In this Trans: Adeleke is the
  • A. agent
  • B. auctioneer
  • C. broker
  • D. offeree
  • E. offeror
23. The following are methods of quoting prices EXCEPT
  • A. A.C.I.F
  • B. F.A.S
  • C. F.O.B
  • D. L.O.C.O
  • E. E.O.E
24. The amount receivable by shareholders after the declaration of profit is called
  • A. bonus
  • B. commission
  • C. dividend
  • D. interest
  • E. premium
25. Which of the following is an invisible item of trade?
  • A. Banking Service
  • B. Petroleum Product
  • C. Processed Rice
  • D. Processed Milk
  • E. Processed Yam Flour

Read Also: How to answer neco questions very fast

Commerce Neco Theory Questions And Answers

The following are the kind of questions you should expect in Neco commerce Theory or Essay. They are hot cake questions:

  1. Distinguish between commerce and Industry
  2. Explain three activities involved in the industry
  3. Explain five activities involved in commerce
  4. State five features of a public corporation
  5. What is mail order business
  6. State 5 importance of personal selling to a business
  7. Explain the meaning of market segmentation
  8. Define Nationalism and Indigenization
  9. Define Commercialization and Privatization
  10. State four reasons why the government should participate in business

That’s all for now… I shall update you when more real life questions and answers come up. However, I advise that you are hard-working so as to pass your Neco once and for all.

Read Also: How to read and pass Neco in one day

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