2023 - JAMB Commerce Past Questions and Answers - page 3
21
A demonstration of social responsibility by a business is the payment of
A
interests on loans
B
taxes to government
C
dividends to shareholders
D
premium on insurance
22
|  | ₦ |  |
₦ |
|
Stock 1/1 |
20,000 | Net sales | 370,000 |
|
Add purchases |
250,000 | Â | Â |
|
Cost of goods available for sale |
270,000 | Â | Â |
|
Less stock 31/12 |
40,000 | Â | Â |
|
Cost of goods sold |
230,000 | Â | Â |
|
Rent expenses |
35,000 | Â | Â |
Calculate the net profit
A
₦35,000
B
₦115,000
C
₦105,000
D
₦40,000
23
The concept that refers to the sale, transfer or exchange of goods and services is
A
trade
B
tariff
C
industry
D
marketing
24
Which of the following is an item in the marketing mix?
A
market
B
consumer
C
demand
D
promotion
25
An agreement that is enforceable in law is
A
a contract
B
an acceptance
C
an offer
D
a consideration
26
A major function of trade association is to
A
foster cooperation among members
B
establish a link among member
C
assist members to buy cars
D
help individuals to set up small business
27
The act of selling in a foreign market at a price lower than the cost price is called
A
dumping
B
under sale
C
hedging
D
fair trading
28
The scope commerce is limited to
A
home and foreign trade
B
trade and aids-to-trade
C
wholesale and retail trade
D
wholesale and entreport trade
29
A bill of exchange already accepted can be discounted by the holder in
A
the central bank
B
his bank
C
at least two banks
D
any bank
30
One of the functions of a retailer is the
A
breaking of bulk
B
provision of credit facilities to relations
C
provision of jobs for customers
D
financing of production activities
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