2004 - JAMB Commerce Past Questions and Answers - page 5
41
The term 4 net 7 on an invoice means that?
A
4% surcharge will be made unless payment iss made within seven days
B
4% discount will be allowed on the price charged only if the goods are bought within seven days
C
4% discount will be allowed on the price charged only if payment is made after seven days
D
4% discount will be allowed on the price charge if payment is made within seven days
42
An order sent by an importer to an overseas supplier stating the details of goods required is known as?
A
export invoice
B
ship's manifest
C
an indent
D
bill of lading
43
Organizing trade fairs in Nigeria is the responsibility of?
A
National Directorate of Employment
B
Federal Ministry of Commerce
C
trade association
D
chambers of commerce
44
International trade takes place as a result of?
A
uniformity in costs of production
B
inequitable distribution of natural resources
C
parity in the level of industrialization
D
similarities in climate conditions
45
The use of vending machines in retailing is hindered in a developing economy owing to?
A
poor distribution network
B
low level of education
C
inffective communication system
D
lack os steady power supply
46
Manufacturers' Association of Nigeria contributes to development by advising the government on?
A
industrial policy and harmony
B
budget and budgetary control
C
budget and industrial control
D
environmental protection policy
47
Discounts offered by firms to middlemen for bulk purchases are?
A
trade discounts
B
sales bonanza
C
cash discounts
D
seasonal discount
48
Goods are of merchantable quality if they?
A
conform to description
B
are of equal weight
C
are of the same quality
D
conform to buyers' purpose
49
As the branches indicate, IV is
A
commerce
B
exchange
C
finance
D
construction
50
What does V represent?
A
Ais to trade
B
Advertising
C
Manufacturing
D
industry
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