2018 - JAMB Commerce Past Questions and Answers - page 2

Admission of new partners in a business can be a major source of raising more capital for the business.

Disadvantages of rail transportation include:
Lack of Flexibility, Lack of Door to Door Service, Monopoly, Unsuitable for Short Distance and Small Loads, Booking Formalities, No Rural Service, Under-utilized Capacity

there is lack of flexibility in rail transportation

Open market operations (OMO) refer to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system.

Open Market Operations. Definition: The Open Market Operations refers to the sale and purchase of government securities and treasury bills by the central bank of the country with a view to regulate the supply of money in the economy.

A trademark, trade mark, or trade-mark is a recognizable sign, design, or expression which identifies products or services of a particular source from those of others

trademark is a symbol, word, or words legally registered or established by use as representing a company or product.

Shareholders of the enterprise elect the Board of Directors. A board of directors (B of D) is a group of individuals, elected to represent shareholders.

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation the account is said to be "overdrawn

Current liabilities are a company's debts or obligations that are due within one year or within a normal operating cycle, example is overdraft

The Ministry of commerce also provides Geological Services for Industrial and Commercial, Registration of Trade Groups and artisans and Export promotion.