1994 - JAMB Commerce Past Questions and Answers - page 2
11
Sole enterprise may flourish best in
A
a mining business
B
a retailing business
C
an oil exploration business
D
a car assembly business
correct option: b
Users' Answers & Comments12
The use of coin-operated machines to sell goods is a form of
A
personal selling
B
retailing
C
wholesaling
D
mail-order selling
correct option: b
Users' Answers & Comments13
What is the major function of the wholesaler?
A
buying from small-scale producers and selling to exporters
B
buying in bulk and selling in small quantities
C
granting of credit facilities to retailers
D
providing information to manufacturers on market situation
correct option: b
Users' Answers & Comments14
The rate at which a country's exports exchange for its imports is called
A
balance of payments
B
balance of trade
C
terms of payment
D
terms of trade
correct option: d
Users' Answers & Comments15
The difference between the total payments for imports and the receipts from exports within a given period is referred to as
A
balance of payments
B
balance of trade
C
comparative cost advantage
D
comparative advantage
correct option: a
Users' Answers & Comments16
A pro forma invoice is NOT required when
A
quoting for the supply of goods
B
goods are sent on approval
C
dealing regularly with a customer
D
final prices are uncertain
correct option: c
Users' Answers & Comments17
Which of the following statements is TRUE about sea transport?
A
all ships have specific routes to ply
B
all ships must be insured at every journey
C
all ships are insured separately from the crew
D
all ships normally arrive at their destination with goods
correct option: c
Users' Answers & Comments18
The postal organization which preceded the Nigerian Postal Service is
A
Post and Telecommunication
B
Post and Telephone
C
Post and Teleprinter
D
Post and Telegraph
correct option: d
Users' Answers & Comments19
Goods discharged from ships on which import duties have not been paid are kept in the
A
ordinary warehouse
B
public warehouse
C
private warehouse
D
bonded warehouse
correct option: d
Users' Answers & Comments20
A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is
A
N40,000
B
N80,000
C
N100,000
D
N200,000
correct option: c
Users' Answers & Comments