NECO Commerce Questions And Answers

The National Examinations Council (NECO) is a key player in Nigeria’s education system, conducting national examinations at both Ordinary and Advanced levels. NECO Commerce is a popular subject among candidates, covering various aspects of business and trade. In this comprehensive guide, we will delve into NECO Commerce questions, providing insights into question types, common errors, and effective strategies for acing this exam.

Tips for Answering NECO Commerce Questions:

  1. Read and Understand: Carefully read questions and grasp instructions to avoid misunderstandings.
  2. Seek Clarification: If a question appears unclear, don’t hesitate to consult your teacher or tutor for assistance.
  3. Logical Order: Answer questions in a logical sequence to enhance coherence and organization.
  4. Double-Check: Review your answers before submission to rectify errors and ensure accuracy.
  5. Thorough Study: Devote ample time to study the subject material before the exam.

NECO Commerce Questions and Answers:

Let’s explore a few sample questions and their corresponding answers to gain insight into NECO Commerce:

  1. Income distribution, nature of natural resources, investment, etc. forms part of the business environment. Answer: B. economic
  2. The fee for sending a telegram depends on the Answer: E. urgency of the message
  3. The combination of product, price, Answer: C. marketing mix
  4. Kolawole’s average stock is? Answer: A. N9,000.00
  5. When the supplier charges a retailer for not returning empty packages, the supplier sends him a/an Answer: D. debit note
  6. Which of the following is NOT a function of Commerce? Answer: C. Extracting goods for further production and processing
  7. In which order are the following documents used? Answer: C. II, I, IV, III and V
  8. The price of an item is N 300 with a trade discount of 20%, What is the selling price? Answer: B. N240
  9. A hire purchase transaction becomes a sale when the hirer Answer: A. pays the full cost of the goods
  10. An electronic system of communication that serves as the international information bank is called Answer: D. the Internet


Navigating NECO Commerce requires a solid understanding of business concepts, effective study habits, and a strategic approach to answering questions. By comprehending question patterns, avoiding common errors, and following these insightful tips, you’ll be well-equipped to tackle NECO Commerce with confidence and achieve the success you aspire to. Remember, preparation is the key to conquering any challenge, and NECO Commerce is no exception.