2019 - JAMB Commerce Past Questions and Answers - page 7
Which of these is not a merit of division of labour
results in specialization
brings about an element of automation
Training in new jobs is facilitated
Creates monotony in the worktask
Monotony can be physical or mental. In the physical world it is the repetition of the same movement over and over. It becomes a mechanical act that the individual does not have to think about. In the workplace mental monotony can be performing the same task without thought to how it is being done. More.
The function of management that establish objectives for the organization and trying to determine the best ways to accomplish them
organizing
planning
directing
controlling
The provision of qualified managerial and other skilled personnel for an enterprise is called
Directing
Controlling
Planning
Staffing
Staffing means to provide (an organization, business, etc.) with staff.
A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried
Cartel
Conference
Syndicate
Trust
The difference between a chamber of commerce and a trade association is that the former
is not restricted to a particular industry
is a branch of trade that sells product
consists of members engaged in the same trade
are association of individuals or firms
A chamber of commerce is a voluntary local association of business executives, entrepreneurs, tradesmen and others in a city, town or country.
Which of these is a document used in International trade?
Debit note
Credit note
Invoice
Price ring
Because invoice is one of the six main documents sent to the importer. An invoice will state in detail the nature, quality, quantity and price of the goods making up the consignment.
All but one is not a barriers to foreign trade
Natural Barriers
Economic Barriers
Social and Language Barriers
Trade Fair
Trade Fair is an exhibition at which businesses in a particular industry promote their products and services.
The difference between the buying price and the selling price of a share is referred to as
Commission
Profit
Jobber's Profit
Turnover
The difference between the price at which a former jobber on the London Stock Exchange was prepared to buy and the price at which the jobber was prepared to sell. See also spread. From: jobber's turn in A Dictionary of Finance and Banking »
A bear market is said to be in existence in a period of
Boom
Stump
Bullish
Stagflation
A bear market is said to be in the period of the stump with an uncertain economic trend.
Use the following information to answer this question.
Oladosu Bookshop
54, Ahmadu Bello Way
Kaduna
P.O.BOOX 336
6 January 1989
Olu Stationery ltd
17, Kakawa Street
Lagos
Dear Sir,
We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.
Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.
Yours Faithfully
Manager.
The above represents?
A quotation
Consignment notes
Letters of Inquiry
An order form
A letter of inquiry asks someone for specific information. ... In other cases, such as a request for specific information on a product, the recipient may or may not be as motivated to respond quickly. More.