TODAY’S ANSWERS NECO STORE KEEPING PAST QUESTIONS & ANSWERS OBJ EXPO RUNZ

TODAY’S ANSWERS NECO STORE KEEPING PAST QUESTIONS & ANSWERS OBJ EXPO RUNZ

NECO Store Keeping 2017 Questions And Answers Expo (Objective and Essay, Theory)

NECO Store Keeping Expo Answers – The resources below on Store Keeping have been provided by NECO to assist you understand the required standards expected in Store Keeping final Examination. Keywords; Free neco 2017 Store Keeping Runz, free Store Keeping choke, Free Store Keeping Expo, neco Store Keeping Expo.

Students performance assessment in examination under review was done by the Chief examiner,this you will see while exploring links like General Comment, Performance, Weaknesses, Strength and Observation to respective Questions.

NECO Book Keeping 2017 Questions and Answers | Obj/Theory Expo.

NECO Salesmanship 2017 Questions and Answers | Obj/Theory Expo.

EXAM DATE: Thursday 20th July 2017.

  1. OBJ & Essay – Store Keeping – 10am – 12:40pm
  2. OBJ & Essay – Book Keeping – 10am – 1:50pm
  3. OBJ & Essay – Salesmanship – 10am – 12:40pm
  4. Paper IV: Drawing & Design – Furniture Making – 10am – 12pm
  5. OBJ & Essay – Furniture Making – 12:30pm – 2:15pm
  6. OBJ & Essay – Office Practice – 2:30pm – 5:30pm
  7. OBJ & Essay – Auto Mechanics – 2:30pm – 5pm

NECO Store Keeping Past Questions And Answers.

Question 1
Describe the following:

  1. Private warehouse;
  2. Public warehouse;
  3. Bounded warehouse;
  4. Government warehouse;
  5. Co-operative warehouse.

OBSERVATION AND COMMENT.

Majority of the candidates attempted this question and the performance was very good.

Question 2

  1. What is a feasibility study?
  2. Explain the following:
  • (i) technical feasibility;
  • (ii) economic feasibility.

State four reasons for carrying out feasibility studies.

  1. Private warehouse;
  2. Public warehouse;
  3. Bounded warehouse;
  4. Government warehouse;
  5. Co-operative warehouse.

OBSERVATION AND COMMENTS.

The explanations of technical and economic feasibility were well attempted. The following are some of the required answers for 2(c) where the candidates find it difficult.

2(a) A feasibility study is a study undertaken to evaluate and analyze the potential of a proposed project or venture to succeed.
2(b) Explanation of answers

  1. Technical feasibility – This is an assessment that is focused on gaining an understanding of the present technical resources of an organization and their suitability to the expected needs of a proposed project. It is an attempt to determine whether the organization has the manpower equipment and other machines that match the requirements of the proposed project.
  2. Economic feasibility – This is an assessment to determine the positive economic benefits to an organization of a proposed venture or project. It is a way of determining the gain or profit that may likely arise from embarking on such project. Hence, it involves knowing the financial implication of the project.

2(c) Reasons for carrying out feasibility studies

  1. Gives focus to the project: – feasibility study assist in determining the purpose for which a project is to be embarked upon so as to know what the project actually entails.
  2. To help outline alternative courses of action:- feasibility study helps to assess various ways or approaches to getting a project done.
  3. To identify new business opportunities:- The study gives room to identify and utilize new opportunities that may be accommodated by the available means at hand.
  4. To enhance the probability of success of the proposed venture: Doing a
  5. feasibility study helps to know every step to be taken to get a project done and hence increases the probability of its success.
  6. To provide quality information for decision making :- A feasibility study looks at every aspect of a project and thus provides adequate information to guide in decision making.
  7. To help in securing funds for the project: Every financial institution will require a feasibility report as part of things to consider in granting a loan.
  8. To provide evidence that the venture was thoroughly investigated:- A feasibility study produces a report which serves as an evidence that the venture was properly
  9. investigated to ensure its success.
  10. Finally To obtain approval of top management or board for the project:- The report of a feasibility study helps to secure the approval of top management for the project

Question 3

  1. What is e-commerce?
  2. State five advantages and four disadvantages of e-commerce..
  3. State and explain any five steps in marketing planning process.

OBSERVATION AND COMMENTS
The performance of the candidates in question

(3a) was very good. But in (3b), candidates’ performance was very poor. The expected answers include:

3(bi) Advantages of e-commerce:

  1. Global market – customers are spread over the entire world.
  2. Lower transaction cost – It reduces cost of doing business substantially.
  3. Quick delivery – Because there is a quick exchange of information
  4. concerning the transaction, payments and delivery can be made quickly.

Others are

  1. Saving of time and effort – It saves a lot of time and energy in receiving orders and executing the order.
  2. No closing hours – The internet is opened 24 hours a day. A customer can do his shopping anytime.
  3. Wider choice – The consumer can access many shops at the same time and compare products and prices.
  4. Convenience – A customer can do his shopping at home or in the office.

 

3(bii) Disadvantages of e-commerce:

1. High start up cost – Getting hard-wares, connection costs to the internet and maintenance
2. High risk – A business may run the risk of internet fraudsters.
3. Training and maintenance – The need to train staff to maintain the internet facilities and web pages may be expensive for small business.
4. Lack of personal contact – It is not suitable for personalized services since there is not personal interaction with the seller.
5. Security: Fear of theft of credit card numbers and other personal details affects buyers.
6. Vulnerability – The availability of product details, prices and other information about the business through its websites make it vulnerable to access by its competitors.
7. System and data integrity – Data protection and integrity of the system are of concern because of viruses.
8. Unemployment:- Because firms require fewer number of employees, it may increase the level of unemployment.

 

Question 4

  1. State four reasons why there must be safety at work.
  2. State five characteristics of a good work environment.

 

OBSERVATION AND COMMENTS.

Candidates’ performance in this question was poor. The expected answers include:

4(a) Reasons for safety at work:

  1. Government Regulation:- The need to comply with government regulation on safety at work.
  2. Safety of staff:- To ensure effective and efficient performance, employees need to be safe.
  3. Protection of equipment:- equipment should be protected in order to prevent or minimize exposure of employees to danger.
  4. Reduction of cost of operation:- Safety of staff at work will result in elimination of costs associated with accident claims, insurance, sickness and absenteeism at work.
  5. Elimination of works stoppage: – Continuity of production is assured once employees are safe.
  6. Increase productivity of staff: Employees with adequate protection will put in their best.

 

4(b) Characteristics of a good environment:

  1. Cleanliness: – A good working environment must be clean.
  2. Accessibility – It must be accessible at all times.
  3. Spacious – It must be spacious enough to accommodate staff, materials and equipments.
  4. Illumination – The place should have functional light to enhance security and safety.
  5. Ventilation – The place should be well ventilated to protect the goods and staff.
  6. Refuse collection facilities – Refuse should be collected regularly and there should be enough collection points.
  7. Restaurant facilities:- There should be provision of adequate restaurant facilities for staff.
  8. Safety: A good environment should be safe and have safety facilities such as first aid box, fire extinguishers etc.

 

Question 5

  1. Who is a storekeeper?
  2. List three attributes of a storekeeper.
  3. Explain five functions of a storekeeper.

 

OBSERVATION AND COMMENTS.

Majority of the candidates that attempted the question did well in 5a and 5b. In 5c, candidates were not able to answer the question correctly due to poor knowledge of the subject. The expected answers to question (5c) include:

5(c) Functions of a Store Keeper are:

1. Receiving goods and materials:- The storekeeper is to receive all goods and materials, tools etc in good condition into the store.
2. Keeping of stocks in such a way that they can be easily located when required:- He devises a system for locating items when required using any location system.
3. Making issues from store as and when required: He issues stores items based on approved requisitions
4. Keeping stock records of receipts and issues: – He maintains a record of all receipts and issues through the use of bin cards and other store records.
5. Assist in stock taking at regular intervals:- Since he knows the nature and location of the store items, he assists at every instance of stock taking.
6. Make request for re-order when stocks are below the minimum level: Once an item reaches the re-order level he alerts the authority or initiates the process of replenishment.
7. Supervise other store staff – He Supervises other store staff who are under him in the course of their duties.
8. Checking and inspecting receipts – He checks and inspects or assists in inspecting all goods coming in before they are received into the store.
9. Identification, sorting and coding of coded using alphabets or numbers or a combination of them to facilitate easy retrieval of goods when needed.

 

Question 6

1. Describe the following; centralized store and decentralized store.
2. State four factors to be considered in deciding the location of a store.

 

OBSERVATION AND COMMENTS
Many candidates answered the question as it is related to commerce and their performance was very good.

Candidates weakness/remedies

• Some of the weaknesses observed in the candidates’ scripts were:
• Inadequate preparation for the examination.
• Non-coverage of syllabus before registering for the examination.
• Lack of relevant teaching materials as the subject (storekeeping) is newly introduced into the school curriculum.
• Candidates could not interpret the questions to know exactly what the question required them to do.

TODAY'S ANSWERS NECO STORE KEEPING PAST QUESTIONS

SUGGESTED REMEDIES

1. Government should endeavour to recruit qualified teachers that can teach the subject.
2. Candidates should prepare very well by covering all aspects of the syllabus before writing the examination.
3. More themes should be devoted to the teaching and learning of English Language in schools so that candidates will be able to read and understand the questions.
4. O’ level storekeeping textbook should be made available to candidates preparing for the examination.

 

Candidates strength
The candidates performed very well in question testing different section of warehousing.

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