1997 - JAMB Commerce Past Questions and Answers - page 3
21
A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.
What is the authorized capital?
What is the authorized capital?
A
N40 000
B
N50 000
C
100 000
D
200 000
correct option: b
Users' Answers & Comments22
The turnover of firm maybe affected by
A
the demand for its product
B
the cost of its goods sold
C
its closing stock
D
its net assets
correct option: a
Users' Answers & Comments23
The cost of transporting goods to consumers called
A
carried inward
B
carried forward
C
carried paid
D
carried outward
correct option: d
Users' Answers & Comments24
The main aim of selling directly to consumers by manufactures is to
A
dis courage the activities of middlemen
B
make contacts with comsumers
C
eliminate transportation cost
D
maximize the profit margin
correct option: a
Users' Answers & Comments25
In foreign trade, document of title is known as
A
bill of lading
B
bill at sight
C
certifiate of origin
D
declaration form
correct option: a
Users' Answers & Comments26
Excise duties are paid on goods that are
A
imported into the country
B
manufactured within the company
C
exported to other clonutries
D
kept in bond warehouses
correct option: b
Users' Answers & Comments27
Stevedores as a term in foreign trade means men who
A
inspect goods in ships
B
import goods by ships
C
collect duties in ships
D
load and unload ships
correct option: d
A stevedore, dockworker, docker, dock laborer, wharfie, wharf rat, lumper, and/or longshoreman is a waterfront manual laborer who is involved in loading and unloading ships.
Users' Answers & Comments28
A close indent is an instrument to an agent to
A
order goods from a particular manufacturer
B
order goods from any manufacturer
C
sell gods to any firm
D
sell goods to a certain firm
correct option: a
Users' Answers & Comments29
The basic distinction between cash discount and trade discount is that while trade discount is
A
for a period of 30 days, cash discount is for a period of 3 months
B
given by a wholesaler, cash discount is given by a bank
C
a reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value
D
a reduction in the value of sales, cash discount is a reduction in price of goods
correct option: d
Users' Answers & Comments30
The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as
A
excess charges
B
demurrage charges
C
permium charges
D
trade charges
correct option: b
Users' Answers & Comments