2023 - JAMB Commerce Past Questions and Answers - page 1
The activity of buying goods in bulk and selling in small quantities to retailers is known as ___
wholesaling
retailing
merchandising
assembling
Wholesaling involves purchasing goods in large quantities from producers or manufacturers and then selling them in smaller quantities to retailers, who in turn sell to the end consumers. This process allows wholesalers to take advantage of volume discounts and provide a variety of products to retailers without requiring them to maintain large inventories.
The production of goods and services in anticipation of demand is made possible by ___
warehousing
packaging
branding
advertising
Warehousing allows businesses to store goods until they are needed, enabling the production of goods in anticipation of demand. This storage capability ensures that products are available when consumers are ready to buy, even if the items were produced earlier.
The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is
The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
Another name or term for a dishonoured cheque is
Current account holders withdraw money through
An agent who has to sell perishable goods without the prior authority of the owner becomes an agent by
At the collapse of a business enterprises, the person appointed to dispose off the assets is called
Which of the following attracts only interest but leaves the capital unpaid?
The process of dividing tasks into jobs and departments and delegating authority is known as