2001 - JAMB Commerce Past Questions and Answers - page 3
21
If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?
A
N2,760
B
N3,000
C
6,500
D
9,500
correct option: b
Users' Answers & Comments22
Bank Giro is a method of settling debt from a
A
customer to a bank
B
bank to customer
C
customer to another
D
bank to another
correct option: a
Users' Answers & Comments23
Warehousing is a productive function because it increase the
A
quantity of goods
B
utility of goods
C
quality of goods
D
price of goods
correct option: a
Users' Answers & Comments24
A factor necessary for siting a warehouse is nearness to
A
raw materials
B
labour
C
capital
D
consumers
correct option: d
Users' Answers & Comments25
Pooling of risk in insurance means that?
A
compensations are paid out of a common fund
B
two people can pool their risks to be insured
C
two insurance companies can buy two policies
D
insurance companies should encourage taking risks.
correct option: a
Users' Answers & Comments26
The major difference between insurance and assurance is that while insurance
A
takes care of uncertainty, assurance takes care of risks
B
takes care of risks , assurance takes care of uncertainty
C
hinges on probabilities, assurance is based on possibilities
D
is about indemnity, assurance is about life in the future
correct option: c
Users' Answers & Comments27
A documentary bill will normally be accompanied by
A
. sales invoice, bill of lading and insurance certificate
B
clean bill, bill of lading, and insurance certificate
C
bill of lading, consular invoice, and insurance certificate
D
consular invoice, FOB certificate and bill of lading
correct option: d
Users' Answers & Comments28
Which of the following best describes the classification of computer?
A
Mini-computer, speed and size
B
Micro-computer, cost and abilities
C
Mini-computer, Micro-computer and work station
D
Mini-computer , hybrid and digital
correct option: c
Users' Answers & Comments29
The temporary working area of the central processing unit is called the?
A
C-D ROM
B
C-D RAM
C
ROM
D
RAM
correct option: b
Users' Answers & Comments30
The significance of money to modern economic system is that it?
A
is used as a means of payment
B
promotes specialization and exchange
C
measures value and promotes exchange
D
causes inflation in the economy
correct option: c
Users' Answers & Comments