NECO;COMERCE 100% CORRECT OBJ AND THEORY

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COMMERCE OBJ Type B:
1-10: ECBEBAEEBA
11-20: DEABAADDCC
21-30: AACBEDADAC
31-40: EEBCECCABE
41-50: DABAADDEBE
51-60:DDCDAEEDDE
change your booklet and shade only this
Type B
(1a)
a public enterprise may be defined as a
business organization established,
owned,manged and financed with tax
payers money by government of a country
with the ain motive of not making profit
but to render essential services to
members of the public.
(1b)
-ownership and finance
-types of services rendered
-profit motive
-enjoyment of monopoly
-restriction of services
-method of establishment
-ownership and management
-capital involvement
(2a)
(i) Innocent Misrepresentation: A
misrepresentation is said to be innocent if
the maker has reasonable ground to
believe that the statement is true.
(ii) Fraudulent misrepresentation: A
misrepresentation is fraudulent if the party
making it knows it is false or it makes it
without honest belief in its truth.
(iii) Negligent misrepresentation: Negligent
misrepresentation is a false statement
made by a person who has no reasonable
ground for believing the statement to be
true.
(2b)
(i) Voidable contract
(ii) Valid contract
(iii) Void contract
(iv) illegal contract
(v) Executed contracts
(vi) Written contract
(vii) Bilateral contracts
(viii) Oral contracts
(3a) Commerce is the exchange of goods
or services for money or in kind, usually on
a scale large enough to require
transportation from place to place or from
across city, state or national boundaries to
another.
(3b)
(i) Role of advertising: Advertising has in
fact facilitated commerce. Aggressive
advertising has helped to create a great
awareness for many unknown goods.
(ii) Government participation: Government
has also contributed to the growth of
commerce by providing conducive and
enabling environment for business
operation and investment. They also
provide loans.
(iii) Population growth: Increase in world
population has also increased commercial
activities. Also changes in the consumption
pattern of people have also facilitated
growth in commerce.
(iv) Development of means of
transportation: Improvement and
development of the means of transporting
goods and people from place to place has
greatly affected commerce.
(v) Development of warehouse:
Warehouses has enabled goods to be
produced and kept ahead of demand and
it helps in stabilising prices and protection
from damage.
(vi) Development of means of
communication: Modern
telecommunication has eased and
hastened contacts among people of
different countries.
(vii) Development of insurance: The
development of insurance which helped to
reduce or spread risk involved in trade has
also helped to promote growth of
commercial activities.
(viii) Emergence of scientific method of
grading: Through scientific grading and
research, the problem of buying and selling
has been reduced.
(5a)
-rail is good on long distance
-accident is not common unlike road
-it is good for carrying bulky goods
-standard rates are charged
-entertainment and refreshment services
are provided
(5b)
-encouragement of international trade
-movement of productive resources
-improves standard of living
-employment opportunities
-movement of goods and people
(10a)
Merger is the coming together or
amalgamation of two or more firms to for
one new company. The old firm will lose its
identity and the new company will emerge
wit a new name.
(10b)
(i) To eliminate competition
(ii) Acquisition of technical know-how
(iii) Diversification
(iv) To prevent Liquidation
(v) To obtain larger share of the market
(vi) Opportunity of raising more capital
(vii) Tax saving
(viii) Guaranteed supplies.
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