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COMMERCE NECO EXAM EXPO WILL BE POSTED FREE OF CHARGE.,... Click Here






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Wednesday 26th June
Paper I: Objective - Commerce 10.00 am - 11.00 am

Paper II: Essay - Commerce 11.00 am - 12.40 pm

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VERIFIED NECO COMERCE OBJ:

1-10: ACEDBBEADC

11-20: ECCAADBBBB

21-30: DDBECAABCD

31-40: CEBCADDECC

41-50: EEBCADCCCC

51-60: CACABDBAAE




(2a)
tarriffs are taxes or
duties imposed on imports
and export by d govt of a
country. the idea behind
tariffs is to restrict the volume of trade or
improve the international
terms

(2b)
-tariffs are imposed to
protect infant in
dustries from under
competition with
foreign firms
-tariffs are imposed to
prevent dumping of
goods from foreign
countries and it is used
to prevent foreign
goods from being sold
at prices lower than
home price.
-tariffs are also
imposed to gen erate
revenue for the country.
many countries derive
their revenue from
import and export
duties

(1a)
Circulating capital: it is
also referred to as
WORKING CAPITAL this is the
amount of money that
business organizations use for the day today
running
of the business. it is the
capital available to a
firmfor general purposes.

(1aii)
- it is used as basis for planning
- it is used in measuring
the firms capability
- it gives investors the
inside strength of the
business - it is used in determining
the circulatory capital
available for day to day
running
- it shows the viability of
business enterprises

(1b)-price reduction
-advertising
-sales promotion
-offering of credit facility
-increasing the range of good sold

(1a) Trade is simply the buying and selling of
goods and services while commerce is involved in
all activities in the distribution.

(1bi)
(1bii)ACTIVITIE
S:
(a) Wharehousing: The storage of goods until
they are needed thus binding the gap btw demand
and supply.

(b) Transport: The moving of raw
material and finished goods from production point
to consumption points through transport.

(2a)i)Ownership

(ii) Accountability

(iii) Not profit
oriented

(iv) Establishment

(v) High capital
requirement.

(2b)i) Sharesraised by shareholders:
Shares areusually raised by shareholders(ow ners)
which form the capital base of the company.

(ii)Hire purchase: Facilities can be granted to the
company to buy and pay by instalments.

(iii)Retained profits: Theprofits made by the company
can be set aside orre-invested.

(iv) Equipment
leasing: Equipment can be leasedout by
companiesfor money.

(v) Trade credit: Raw
materials can be purchased by thecompany on
credit.

(3a) Mail order business: this is a form of
large retaining in which buyingand selling is carried
out by post.

3b) Six trade in retaiting are:

(i)Branding.

(ii)Self service.

(iii) Vending machines.

(iv)
Pre-packing.

(v) After saler service. (v) credit card.

(5)a) Proximate cause: This principle states that
only the losses orliabilities which arise from the
direct and immediate cause ofthe event insured
against are indemnified.

(b) Surrender value: This is
the amount in cash an insurance company willpay
to an endowment policy holder if he wishes to
discontinue.

(c) Contributions: This states that
where a person gap insured a certain risk with
many insurance companies, hecannot claim
compensation in full from each of the insurance
companies.

(d)Utmost Good faith: Thisstates that in
any insurance contract, all relevant inform that
willaffect the validity of the agreement must
bedisclosed by the parties involve. The true values
of the property must not be under or overstated.

(e) Premium: This is the payment made to an
insurance company for an insurance. It can be
paid annually or weekly depending on the
agreement .
THEORY IS LOADING












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