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
correct option: d
Users' Answers & Comments42
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
correct option: c
Users' Answers & Comments43
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
correct option: b
Users' Answers & Comments44
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
correct option: b
Users' Answers & Comments45
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
correct option: d
Users' Answers & Comments46
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
correct option: a
Users' Answers & Comments47
Discounts offered by firms to middlemen for bulk purchases are?
A
trade discounts
B
sales bonanza
C
cash discounts
D
seasonal discount
correct option: a
Users' Answers & Comments48
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
correct option: a
Users' Answers & Comments49
As the branches indicate, IV is
A
commerce
B
exchange
C
finance
D
construction
correct option: d
Users' Answers & Comments50
What does V represent?
A
Ais to trade
B
Advertising
C
Manufacturing
D
industry
correct option: a
Users' Answers & Comments