2005 - JAMB Commerce Past Questions and Answers - page 4
31
A cheque drawn by a bank official on the bank's deposits in another bank on a customer's instruction is known as?
A
promissary note
B
bankdraft
C
banker's order
D
travellers' cheque
correct option: c
Users' Answers & Comments32
A type of credit offered by both commercial and merchant banks in Nigeria is?
A
trade credit
B
line of credit
C
discounting facility
D
overdraft
correct option: d
Users' Answers & Comments33
A major function of a chamber of commerce is?
A
increaseing productivity
B
promoting both home and foreign trade
C
promoting trade in a particular line
D
maximizing profit
correct option: b
Users' Answers & Comments34
Which of the middlemen in the channel of distribution has tittle to the goods he distributes?
A
The merchant wholesaler
B
The agent
C
The limited wholersaler
D
The retailer
correct option: a
Users' Answers & Comments35
Which of the following confirms the accuracy of the duty charged on imported goods?
A
An indent
B
Consular invoice
C
Consignment note
D
Shipping note
correct option: b
Users' Answers & Comments36
The association that comprises all types of businesses is referred to as?
A
chamber of commerce
B
trust
C
trade association
D
cartel
correct option: a
Users' Answers & Comments37
Wholesalers can be divided into?
A
sales agent and brokers
B
full service
C
cooperative wholesale society and limited service wholesalers
D
merchant wholesales and egent middlemen
correct option: d
Users' Answers & Comments38
In Nigeria, the ministry in charge of registering trade associations is that of?
A
industries
B
commerce
C
culture and tourism
D
finance
correct option: b
Users' Answers & Comments39
Invisible imports consist of?
A
cement, shipping and consultancy services
B
banking, drinks , insurance and technical services
C
consultant services, tourism and banking
D
tourism, banking and canned food and cement
correct option: c
Users' Answers & Comments40
The bank that discount bills of exchange is the?
A
central bank
B
mortage bank
C
development bank
D
comercial bank
correct option: d
Users' Answers & Comments