2005 - JAMB Commerce Past Questions and Answers - page 3
21
In CIF contracts, risk passes at the time of shipment but the property does not pass until?
A
there is physical transfer of goods
B
the shipping manifest are signed
C
the shipping documents are transferred
D
the goods on board are delivered
correct option: b
Users' Answers & Comments22
A partnership is dissolved when?
A
the business suffers a loss
B
there is bankruptcy
C
there is consistent theft
D
there is misunderstanding between partners
correct option: b
Users' Answers & Comments23
One of the disadvantages of a sole proprietorship is?
A
secrecy of annual reports
B
pride of ownership
C
limited liability
D
unlimited liability
correct option: d
Users' Answers & Comments24
The most important concept on production is?
A
utility
B
wealth creation
C
transformation
D
distribution
correct option: a
Users' Answers & Comments25
An acquired firm in a merger will always receive a?
A
premium
B
grant
C
share
D
discount
correct option: c
Users' Answers & Comments26
Occupations are classified into?
A
production, labour and economics
B
extraction, construction and manufacturing
C
industry, commerce and serves
D
trade, aids to trade and serivices
correct option: c
Users' Answers & Comments27
The Nigerian Telecommunications Limited is a?
A
jointly owned company
B
public corpoation
C
privately owned company
D
public company
correct option: b
Users' Answers & Comments28
An engineer in government employ is to be rendering?
A
primary service
B
tertiary service
C
indirect service
D
direct service
correct option: c
Users' Answers & Comments29
The availability of goods and services is brought to the notice of customers through?
A
personal selling
B
public relations
C
the telephone
D
advertising
correct option: d
Users' Answers & Comments30
The necessary documents used in foreign trade are?
A
bill of lading, invoice and letter of inqiry
B
indent, bill of exchange, bill of lading and voice
C
voice, shipping note, bill of lading and freight note
D
shipping note, certificate of origin and visible exports
correct option: c
Users' Answers & Comments