NECO Commerce Questions and Answers 2023
by Srinithi
Updated Jun 29, 2023
What is Neco?
The National Examination Council (NECO) is an esteemed examination body in Nigeria entrusted with the responsibility of conducting the Senior Secondary Certificate Examination (SSCE) and the General Certificate in Education (GCE). The SSCE, a pivotal assessment, takes place during June/July, while the GCE is held in November/December.
NECO was established in April 1999 under the leadership of former Nigerian Head of State, Abdulsalami Abubakar. This institution was instituted as a replacement for the National Board of Education Measurement (NBEM) and became the pioneering federal organization in Nigeria to offer subsidized registration for academic candidates.
The primary objective of NECO is to assume the duties formerly held by NBEM, thereby taking charge of organizing and administering standardized examinations for students across Nigeria. In the year 2000, NECO successfully conducted its inaugural examination, marking the commencement of its vital role in the educational landscape.
The Senior Secondary Certificate Examination (SSCE), a significant undertaking facilitated by NECO, holds immense importance for Nigerian secondary school students. This examination rigorously evaluates their proficiency and expertise in diverse subjects, including English Language, Mathematics, Sciences, Social Sciences, and Arts. The results of the SSCE wield substantial influence in determining students' academic advancement, admission to higher educational institutions, and employment prospects.
In addition to the SSCE, NECO also oversees the General Certificate in Education (GCE). The GCE serves as an examination platform for private candidates who are not enrolled in regular school programs. It provides individuals with an invaluable opportunity to attain academic qualifications outside the conventional education system.
NECO plays an integral role in the Nigerian education system, safeguarding the integrity and standardization of examinations. The council relentlessly strives to ensure a fair and dependable assessment of students' knowledge and skills. Continuously adapting to the evolving educational landscape in Nigeria, NECO remains committed to its mission of delivering excellence in the field of examinations.
NECO Commerce Questions and Answers 2023
NECO Commerce Questions and Answers 2023 is yet to happen, but we have given a few practice NECO Commerce Questions and Answers below.
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
How to Pass NECO Commerce Examination?
The National Examination Council (NECO) is the regulatory body responsible for conducting the Senior Secondary School Certificate Examination, which is a crucial assessment for students completing their secondary education. This certificate serves as a significant credential, verifying the successful completion of secondary school and plays a pivotal role in determining eligibility for tertiary education.
The NECO examination holds immense importance, as it is a key factor considered by universities and other higher education institutions during the admission process. As such, students preparing for the NECO 2023 Commerce examination should approach it with great dedication and determination.
Here are some essential tips for success in the NECO 2023 Commerce examination:
1. Maintain a Strong Determination to Succeed:
Having a resolute mindset and setting a goal to achieve an excellent grade in the NECO 2023 Commerce examination is crucial. A determined attitude is vital to overcoming challenges and ensuring success. Avoid the influence of lazy peers who rely on last-minute miracles and instead stay positive and commit to studying diligently.
2. Cultivate Self-Confidence:
Self-confidence plays a significant role in a candidate's performance. Believe in your abilities and trust that you can excel in the examination. Lack of confidence can lead to second-guessing correct answers and copying incorrect ones. Study diligently, pray earnestly, and rely on your own capabilities to achieve success.
3. Begin Studying Early:
Early and consistent studying is essential for success in the NECO 2023 Commerce examination. Avoid the trap of leaving preparation until the exams draw near. Starting early allows ample time for thorough revision and better retention of knowledge.
4. Utilize the NECO 2023 Syllabus:
The NECO syllabus provides a valuable guide, outlining the major topics to cover for the Commerce examination. Utilize the syllabus to focus your studies on relevant subjects and avoid wasting time on unnecessary topics that are unlikely to appear in the exams. Additionally, the syllabus may include topics that were not covered in class, making it essential for comprehensive preparation.
5. Seek Divine Assistance:
Recognize the importance of seeking assistance from a higher power. Pray to God, acknowledging His guidance and support. Faith in God can contribute to your overall success, providing strength and confidence during challenging times.
6. Adhere to Exam Instructions:
Strictly adhere to the instructions provided during the examination. Failure to follow exam protocols may lead to consequences, including the withholding of results. Pay careful attention to instructions regarding the format of answers, time allocation, and any specific guidelines.
7. Manage Time Effectively:
NECO Commerce requires effective time management. Consider the number of questions to be answered and the time available. Allocate your time wisely, ensuring you have ample opportunity to complete all the required tasks within the given timeframe.
8. Arrive at the Examination Venue on Time:
Punctuality is crucial on the day of the examination. Arrive at the exam venue early to allow your mind to settle and prepare for the task ahead. Rushing to the exam hall can lead to unnecessary stress and potentially increase the likelihood of mistakes. Take the time to carefully read through the exam question paper before starting to answer.
By following these guidelines, students can approach the NECO 2023 Commerce examination with confidence, enhancing their chances of achieving excellent results.
NECO Exam Date 2023
The Senior Secondary Certificate Examination (SSCE) is an internal assessment specifically tailored for students in their final year of senior secondary education. These yearly examinations play a pivotal role in evaluating students' academic capabilities and determining their eligibility for higher education. The SSCE encompasses a wide array of subjects, encompassing fundamental disciplines such as Mathematics and English, along with elective subjects aligned with students' interests or chosen fields of study.
The NECO 2023 Timetable has been unveiled, revealing that the examinations are scheduled to commence on July 3, 2023, and conclude on August 11, 2023. This comprehensive timetable meticulously outlines the examination plan, assigning specific dates and time slots for each subject, ensuring an orderly and structured examination process.
During the SSCE, students are required to exhibit their comprehension and proficiency across various subjects through written assessments, practical evaluations, and occasionally oral interviews. Stringent invigilation measures are implemented to maintain fairness and uphold the integrity of the examination proceedings.
The SSCE examinations encompass a wide range of subjects, including Mathematics, English Language, Physics, Chemistry, Biology, Economics, Government, Literature-in-English, Geography, Agricultural Science, and many others. This diverse subject coverage permits students to showcase their competence and aptitude across multiple academic domains.
The SSCE exams mark a crucial milestone in students' educational journey, as their performance significantly influences their eligibility for admission into tertiary institutions. Universities, polytechnics, and colleges of education often consider SSCE results as part of their admission criteria, alongside other factors such as entrance examinations and interviews.
To excel in the SSCE examinations, students should diligently prepare by studying their textbooks, attending classes, engaging in revision exercises, and practicing with past question papers. Developing effective study habits, managing time efficiently, and seeking guidance from teachers or tutors can greatly enhance students' performance and boost their confidence during the examinations.
Approaching the SSCE exams with a positive mindset, concentration, and determination is essential. By adhering to the examination timetable, following instructions meticulously, and applying the knowledge acquired throughout their secondary education, students can increase their likelihood of achieving exceptional results, opening doors to further academic pursuits.
NECO Commerce Questions and Answers 2023 - FAQs
As of now, the NECO commerce Past Questions for 2023 are not yet available. Please stay updated for the latest information.
Answer: Understanding the business environment is crucial as it includes factors like income distribution, natural resources, and investment, which directly impact business operations.
Answer: The fee depends on factors like the number of lines or words in the message, the message's security, its urgency, and the time it would take to reach the destination.
Answer: It is known as the marketing mix, which encompasses various aspects like product development, pricing strategies, distribution channels, and promotional activities.
Answer: Average stock can be calculated by adding the opening stock, purchases, and deducting goods returned outward, then dividing the result by the total number of periods.