2019 - JAMB Commerce Past Questions and Answers - page 7

61

Which of these is not a merit of division of labour

A

results in specialization

B

brings about an element of automation

C

Training in new jobs is facilitated

D

Creates monotony in the worktask

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62

The function of management that establish objectives for the organization and trying to determine the best ways to accomplish them

A

organizing

B

planning

C

directing

D

controlling

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63

The provision of qualified managerial and other skilled personnel for an enterprise is called

A

Directing

B

Controlling

C

Planning

D

Staffing

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64

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

A

Cartel

B

Conference

C

Syndicate

D

Trust

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65

The difference between a chamber of commerce and a trade association is that the former

A

is not restricted to a particular industry

B

is a branch of trade that sells product

C

consists of members engaged in the same trade

D

are association of individuals or firms

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66

Which of these is a document used in International trade?

A

Debit note

B

Credit note

C

Invoice

D

Price ring

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67

All but one is not a barriers to foreign trade

A

Natural Barriers

B

Economic Barriers

C

Social and Language Barriers

D

Trade Fair

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68

The difference between the buying price and the selling price of a share is referred to as

A

Commission

B

Profit

C

Jobber's Profit

D

Turnover

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69

A bear market is said to be in existence in a period of

A

Boom

B

Stump

C

Bullish

D

Stagflation

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70

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

A quotation

B

Consignment notes

C

Letters of Inquiry

D

An order form

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