2016 - JAMB Commerce Past Questions and Answers - page 3
21
Funds used for paying wages, salaries and payments for raw materials are categorized under
A
liquid capital
B
circulating capital
C
fixed capital
D
nominal capital
correct option: b
Users' Answers & Comments22
A formal letter to a dealer to enquire details about certain items for sale is referred to as
A
an inquiry
B
an invoice
C
an order
D
a quotation
correct option: a
Users' Answers & Comments23
The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is
A
target return pricing
B
market skimming
C
variable pricing
D
market penetration
correct option: b
Users' Answers & Comments24
In the transportation industry, dead freight is used to describe the
A
cost paid for an empty space left in the ship
B
charge for each day a performance was delayed
C
persons that hire a ship for a specific purpose
D
cost of shipping a particular cargo for a specific voyage
correct option: a
Users' Answers & Comments25
When expenses on trading are deducted, the result is the
A
rate of turn over
B
net profit
C
gross profit
D
cost of goods sold
correct option: b
Users' Answers & Comments26
A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only
A
after the offeror has made an offer
B
when the offeror's letter has reached the offeree
C
when the offeree's letter has been posted
D
after the offeree's letter has been recieved by the offeror
correct option: d
Users' Answers & Comments27
Which of the followingis a modern trend in retailing ?
A
Kiosk
B
Mobile shop
C
Vending machine
D
Tied shop
correct option: c
Users' Answers & Comments28
Which of the following is a traditional medium of communication used to mark festivals?
A
Palm frond
B
Metal gong
C
Talking drum
D
Gum blast
correct option: c
Users' Answers & Comments29
One of the functions of the retailer is
A
granting credit facilities to close relatives
B
provision of after - sales services
C
branding and packaging of goods
D
warehousing of goods
correct option: b
Users' Answers & Comments30
One of the factors of determining the volume of production is
A
availablity of forex
B
availability of storage facilities
C
the location of the business
D
the number of skilled manpower
correct option: b
Users' Answers & Comments