NECO Commerce 2022 Answers Objective & Essay [100% Verified]

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NECO 2022 Commerce Objective Answers

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2022 NECO Commerce essay questions and answers

What is discount?

Give four reasons for granting discount.

List four mistakes that do not affect the validity of a contract.

Write short notes on the following:

  • Departmental store
  • Broker
  • Accommodation store
  • Public relations

List and explain five importance of transportation.

2022 COMMERCE NECO Questions

(1a) distinguish between a crossed cheque and a stale cheque.
(1b) List and explain four means of payment provided by commercial banks.

(2a) Write short notes on the following:
(i.) cartel
(ii) consortium
(iii) trust

(2b) highlight four reasons for business merger.

(3a) Enumerate and explain three functions of marketing.

(3b) Write short notes on the following:

(i) form utility
(ii) possession utility

(4a) What is entrepot?
(4b) List and explain four reasons for international trade restriction.

(5a) List and explain four contents of trading profit and loss account

(5b) State four factors that affect the profit of a business.

(6a) what is capital as a factor of production?

(6b) List and explain four importance of production.

(7a) State four characteristics of co-operative society.

(7b) List and explain four services provided by credit unions and thrift societies to the members.

(8) List and explain four factors that hinder the achievement of ECOWAS objectives.

(9) briefly explain the following terms:
(a)breach of contract
(C) contract under seal
(d) void contract
(e)Termination of contract

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