2018 - JAMB Commerce Past Questions and Answers - page 3

A promissory note is a financial instrument that contains a written promise by one party to pay another party a definite sum of money.

the company is bound to redeem the cash on the due date

The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its organizational goal, there are basically 4 P's of marketing which are Price, Product, Place and Promotion.

Marketing mix is a combination of factors that can be controlled by a company to influence consumers to purchase its products

Halimah can regard the contract as being terminated because this is a case of breach of contract.

Legal tender is any official medium of payment recognized by law that can be used to extinguish a public or private debt, or meet a financial obligation

The Securities and Exchange Commission (SEC) is the main regulatory institution of the Nigerian capital market

The Nigerian Stock Exchange (NSE) is privately owned and self-regulating, but the SEC maintains surveillance over it with the mandate of ensuring orderly and equitable dealings in securities, and protecting the market against insider trading abuses.

Short term capital is Liquid funds or assets that can be turned into liquid funds within less than a one year period. The amount of short-term capital that a business has available to it typically determines how much it can afford to devote to its operating expenses and will often affect its growth rate.

overdraft is an example of short term capital

A debenture is a long-term security yielding a fixed rate of interest, issued by a company and secured against assets.