NECO Commerce Questions and Answers 2022/2023 (Essay and Objectives)

NECO Commerce Questions and Answers 2022. I will be showing you NECO Commerce objective and theory questions for free. You will also understand how NECO Commerce questions are set and many more examination details.

NECO Commerce Questions and Answers 2022/2023 (Essay and Objectives)

The National Examination Council is an examination body that set questions every year from areas student ought to, after their investigations in senior secondary school, have the option to compose and pass without pressure.

NECO Commerce answers and questions Objectives and Essay will be given here exhaustively and the genuineness of this NECO 2022 Commerce answers for questions have been tried and affirmed certainly.

NECO Commerce Essay And Objective Questions and Answers 2022 (EXPO)

The 2022 NECO Data Processing expo will be posted here during the NECO Data Processing examination. Continue checking and reloading this page for the answer.

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Today’s Commerce Answers: (2021 Answers)

Commerce OBJ







Commerce Essay:


A crossed check is one that has two equal cross over lines drawn across its face regardless of “Co and Ltd” Not debatable. WHILE Stale check is a check which has been available for use for an irrationally prolonged stretch of time, thus the date of show for installment has lapsed .


(Pick Any Four)

(I) Bank drafts

(ii) Bank ensured check

(iii)Automated teller Machine(ATM)

(iv)money gram

(v)Western association.


(Pick Any Four)

(I) Bank drafts: This is a check which a bank official draws on the banks stores in another bank. The bank draft is sold on commission to individuals from the public not disapproving of whether such an individual has a current record with the bank or not. It is a protected method for moving money(huge sum) From one individual to another.

(ii) Bank confirmed check: A mind which the bank had composed its assurance that the check will be paid . yo guarantee that the sum composed on the check is paid , the bank quickly draws out the sum from the contributor’s record.

(iii)Automated teller Machine(ATM): This us modernized machine that empowers or grant back clients to get close enough to their records with an attractively encoded plastic card and a code number. It empowers the client to execute business whenever and play out a few financial activities without the assistance of a teller.

(iv)money gram: Money gram International Inc. Is a cash move organization situated in the United State of America. Money gram organizations are separated into two classes (a) Global asset move (b)financial paper items. The organization administrations people and organizations through an organization of specialists and monetary foundations who supported clients either in sending or getting store all through the world.

(v)Western association: The Western Union cash move is a monetary eservices and correspondence organization situated in the assembled province of America. Western association is most popular occupied with trading wire . it likewise has some expertise in moving specific measure of cash typically in dollars starting with one country then onto the next through the assistance of business bank


Cartel: A cartel is a coordinated effort between at least two organizations or makers of a similar ware to control the creation and offer of the item so as to get strength on the lookout . An illustration of cartel is the Organization of Petroleum Exporting Countries (OPEC).


consortium: A consortium is a coalition of organizations, people, or different substances that got together to accomplish a particular goal. An illustration of consortium is a few banks banding together.


Trust: A trust is a construction where a legal administrator does the business for the trust’s individuals (or recipients). A trust is anything but a different legitimate element. A legal administrator might be an individual or an organization. The legal administrator is lawfully at risk for the obligations of the trust and may utilize its resources for meet those obligations.


(I) Value creation: Two organizations might attempt a consolidation to expand the abundance of their investors. By and large, the solidification of two organizations brings about cooperative energies that increment the worth of a recently made business substance. Basically, cooperative energy implies that the worth of a blended organization surpasses the amount of the upsides of two individual organizations

(ii) Diversification: Mergers are habitually attempted for enhancement reasons. For instance, an organization might utilize a consolidation to differentiate its business activities by going into new business sectors or offering new items or administrations. Furthermore, usually the directors of an organization might orchestrate a consolidation arrangement to differentiate chances connecting with the organization’s tasks.

(iii) Increase in monetary limit: Every organization faces a most extreme monetary ability to fund its tasks through one or the other obligation or value markets. Lacking sufficient monetary limit, an organization might converge with another. Therefore, a combined substance will get a higher monetary limit that can be utilized in additional business advancement processes.

(iv) Tax purposes: If an organization produces critical available pay, it can converge with an organization with significant convey forward charge misfortunes. After the consolidation, the all out charge obligation of the combined organization will be a lot of lower than the assessment risk of the autonomous organization.



[Pick any THREE]
(I) Buying and selling

(ii) Pricing

(iii) Transporting

(iv) Financing

(v) Risk bearing

(vi) Warehousing

(vii) Promotion

[Pick any THREE]
(I) Buying and selling: This incorporates acquisition of unrefined components and products from source and move of responsibility for merchandise to the shopper at the right quality and cost.

(ii) Pricing: Marketing helps in fixing costs of merchandise at a healthy level to give benefit to the organization.

(iii) Transporting: Goods created should be moved to the last buyers. Go betweens and makers should pick the most appropriate method for moving their merchandise to where they are required.

(iv) Financing: Marketing funds the tasks of the producer through stores and prepayments made by clients.

(v) Risk bearing: Anticipating business hazard and going to suitable lengths to diminish their effects through protection cover.

(vi) Warehousing: This makes it feasible for merchandise to be created in front of interest when required.

(vii) Promotion: It includes exercises, for example, publicizing, deals advancement, individual selling and advertising that target standing out for purchasers.


Structure utility: This is the worth a customer finds in a completed item. It is process that expands the worth of an item to the shopper by making changes and modifying its actual appearance. The strategy includes taking an item and preparing it to address the issues of the end shopper for utilization. This is on the grounds that it is more valuable to serve the completed item than selling unrefined substances.


For utility: This is the worth customers set on buying an item and having the opportunity to involve the item as it was expected or tracking down another utilization for the item. For instance, many individuals use window boxes for planting, however these pots have different uses, for example, capacity for little articles found around the house or as a focal point for the lounge area table.



Entrepot is a go-between storeroom where products are kept briefly for conveyance inside a nation or for re-send out.


(I) To safeguard baby businesses: Countries force limitations on internation exchange to energize development of homegrown ventures. It is important to safeguard baby businesses inorder that the economy can become independent and to empower utilization of privately delivered merchandise

(ii) To produce income for the nations: By forcing import levies, the public authority gets a kind of revenue other than people assessments or business charges.

(iii) For business age: Import limitations assists with making neighborhood occupations for residents. Whenever importation is restricted, more homegrown ventures are made, in this way expanding business or occupation creation locally.

(iv) To work on the equilibrium of installments shortage: Imposing taxes on imports assists with revising equilibrium of installment, When duties are forced, the costs of imports would increment to the degree of tax. The expanded costs will decreased the interest for imported products and simultaneously initiate homegrown makers to create a greater amount of import substitutes. Unimportant imports can be radically diminished by forcing an exceptionally high pace of levy.



Break of agreement: This is an infringement of any of the settled upon agreements of an authoritative agreement. The break could be anything from a late installment to a more genuine infringement, for example, the inability to convey a guaranteed resource.


Contract: This is an understanding between at least two gatherings to play out an assistance, give an item or focus on a demonstration and is enforceable by regulation.


Contract under seal: This is a conventional agreement which doesn’t need any thought and has the mark of the endorser appended. An agreement under seal should be recorded as a hard copy or imprinted on paper. It is convincing between the gatherings when guaranteed.


A void agreement: This is a proper arrangement that is really ill-conceived and unenforceable from the second it is made. An agreement might be considered void on the off chance that it isn’t enforceable as it was initially composed.


End of agreement: This implies legitimately finishing the agreement before the two players have satisfied their commitments under the conditions of the agreement.

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The inquiries underneath are not by and large 2021 NECO Commerce questions and answers however probable NECO Commerce rehashed questions and replies.

These inquiries are stringently for training. The 2021 NECO Commerce exhibition will be posted on this page upon the arrival of the NECO Commerce assessment. Continue checking and reloading this page for the responses.

NECO Commerce Practice Questions and Answers

1. Pay conveyance, nature of regular assets, venture and so on structures part of – – business climate.

A. social

B. financial

C. political

D. social

E. mechanical

2. The charge for sending a wire relies upon 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 arrive at its objective

E. desperation of the message

3. The mix of item, cost,

A. customer direction

B. advertising idea

C. advertising blend

D. marker research

E. item blend

4. Utilize the accompanying data to respond to address

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

A. N9,000.00

B. N10, 000.00

C. N279,000.00

D. N280,000.00

E. N290,000.00

5. Whenever the provider changes a retailer for not returning void bundles, the provider sends him a/an

A. exhortation note

B. transfer note

C. credit note

D. charge note

E. articulation

6. Which of coming up next isn’t an element of Commerce?

A. Helping Companies in raise capital

B. Helping with moving men and materials to creation focuses

C. Extricating merchandise for additional creation and handling

D. Putting away products until they are required

E. Offering business potential open doors to countless individuals

7. In which request are the accompanying reports utilized?

I. Enquiry
II. Conveyance note
III. Request
IV. Receipt
V. Citation

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 cost of a thing is N 300 with an exchange markdown of 20%, What is the selling cost?

A. N180

B. N240

C. N300

D. N360

E. no choice

9. A recruit buy exchange turns into a deal when the hirer

A. pays full expense of the merchandise

B. concurs with the recruit buy terms

C. claims the merchandise

D. pays part of the portions

10. An electronic arrangement of correspondence which fills in as the global data bank is called

A. an email

B. a satellite

C. a message

D. the Internet

11. Shares, stocks, government bonds exchange the stock trade marks: are known as

A. debentures

B. stomach edged stocks

C. stocks

D. protections

E. treasure bills

12. The act of offering a products underneath market cost to draw in more clients is known as

A. accumulating

B. misfortune pioneer

C. market sharing

D. exploitative

E. guessing

13. Shares that are completely paid can be changed over into masses known as

A. bonds

B. capital stores

C. debentures

D. culpability edged protections

E. stocks

14. Telecom administrations are given by

A. Agency De Change

B. Messenger Services

C. Date Post



15. Utilize the accompanying data to respond to address

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

A. N180,000.00

B. N227,000.00

C. N279,000.00

D. N290,000.00

E. N301,000.00

16. The method involved with passing data starting with one individual then onto the next in an association is known as

A. correspondence

B. co-appointment

C. appointment

D. course

E. Inspiration

17. A monetary archive expressing the explanations behind making an installment and subtleties of the installment is

A. bank draft

B. cash book

C. check

D. payslip

E. voucher

18.Another name for an unfamiliar request is

A. inventory

B. send out

C. import

D. indent

E. citation

19. Public obligation the board is one of the elements of a ______________ bank

A. focal

B. business

C. advancement

D. modern

E. shipper

20. Which of the accompanying sees the purchaser as lord?

A. customer conduct

B. showcasing idea

C. market blend

D. valuing strategy

E. item blend

21. The most appropriate method of shipping exceptionally cumbersome merchandise from Lagos to Kaduna is the

A. plane

B. parade

C. truck

D. transport

E. train

22. Adeleke places his vehicle available to be purchased at N150,000,00 Ibrahim had consented to pay the sum. In this Trans: Adeleke is the

A. specialist

B. salesperson

C. specialist

D. offeree

E. offeror

23. Coming up next are strategies for providing cost estimates 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 sum receivable by investors after the assertion of benefit is called

A. reward

B. commission

C. profit

D. interest

E. premium

25. Which of coming up next is an undetectable thing of exchange?

A. Banking Service

B. Oil based good

C. Handled Rice

D. Handled Milk

E. Handled Yam Flour.

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How To Pass NECO Commerce Examination

The National Examination Council (NECO) is a body accountable for the Senior Secondary School Certificate Examination. The Certificate presented here is a vital accreditation that honors or ensures the fulfillment of your Secondary School Education.

It is a significant archive that qualifies you into any tertiary foundation and is similarly a main consideration influencing confirmation today.

Consequently, every Student getting ready for this examination NECO 2022 is planning for something incredible.

Care should be taken while partaking in this examination in other not to emerge with terrible grades. Coming up next are the vital responses to NECO Commerce 2022.

1. Be Determined to Pass
The NECO 2022 Commerce is basically for the people who have decided to pass it with a passing mark.

Any up-and-comer who, now, has not made up their brain to make the phenomenal grade in the approaching NECO 2022 Commerce is really not prepared to pass.

Your psyche should be prepared for the errand ahead, don’t follow sluggish companions who trust in a supernatural occurrence upon the arrival of the tests, remain positive and review your books.

2. Have fearlessness
Fearlessness is another element that influences a competitor’s presentation. Guarantee to do everything without anyone else and all that will come out exceptionally basic for you.

It’s obviously true that numerous understudies drop the right responses just to duplicate some unacceptable ones in view of an absence of fearlessness. Study and implore hard and you are the marvel for the afternoon.

3. Begin Studying Early
Examining is vital in your life as an understudy. NECO is an exceptionally basic Exam to manage insofar as studies are involved. Contemplating is a certain something and concentrating on time is something else totally.

Try not to hang tight for the NECO 2022 Geography tests to be so close before you begin reading up for them. Late planning won’t actually help you. At the point when you begin concentrating on right on time there will be the ideal opportunity for you to change before the tests.

4. Make Use the NECO 2022 Syllabus
Utilizing the NECO 2022 prospectus is extremely fundamental as it will direct you on significant points to cover. Contemplating without the Syllabus will make you center around superfluous themes that won’t show up in the tests.

Likewise, the vast majority of the Geography points you have not done in class are there in the NECO schedule.

5. Implore God Your maker
Many figure that they can do it isolated without God. The Almighty God is your maker, look for His help and He won’t ever neglect to help you. Your confidence in God decides your prosperity. God is there for you, call upon Him.

6. Stick to tests guidelines.
Any understudy who isn’t prepared to stick to the assessment conducts is intending to fall flat. Most of NECO Candidates that have their outcomes held are from those that were not prepared to adhere to the Exam directions.

7. Utilize Your Time Wisely.
It’s undeniably true that NECO Geography map-perusing needs a great deal of time, deal with the brief period given to you admirably. Consider the quantity of inquiries you are to address and the time given with the goal that you can time carefully.

8. Be timely to the assessment setting
Reliability matters during the tests. Go to the test scene early with the goal that your cerebrum can agree to the errand. Racing to the test lobby will make you unsteady for the test and can inclined you to such countless missteps.

Invest in some opportunity to go through the test question paper before you begin replying. NECO Geography Questions and Answers

On the off chance that you have any inquiries concerning the 2022 NECO Geography questions and replies, do well to tell us in the comment box.

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