2024 - JAMB Commerce Past Questions and Answers - page 8
71
Stock exchange quoted the shares of ABC Plc at #0.75K for #1.25K per share. This means the shares were sold at a
A
par value
B
premium
C
gain
D
loss
72
Transfer of ownership of goods sold under Hire Purchase System takes place when
A
two instalment have been
B
a quarter of the total price is
C
half of the total price is paid
D
the final instalment is paid
73
The body charged with the responsibility monitoring the quality of goods supplied is the
A
manufacturers' association
B
chamber of commerce
C
Nigerian standards organization
D
consumers' association
74
Gross profit can be calculated as
A
Sales minus purchases
B
Sales minus cost of good sold
C
cost of goods available for sales minus sale
D
Cost of good sold minus cost of goods available for sale
75
Which of the following services is NOT rendered by NITEL?
A
Data Transmission
B
Recorded Delivery
C
Satellite
D
Telex
76
The act of being on one job for expertise is called
A
separation of power
B
immobility
C
independence
D
specialization
77
When the price quoted includes all the cost to the actual destination, that is, from the seller's warehouse to the buyer's warehouse, it is called
A
loco price
B
franco
C
carriage paid
D
cash on delivery
78
A multiple shop has many stores which sell
A
manufactured goods
B
locally produced goods
C
perishable goods
D
similar goods
79
Which of the following is NOT a credit instrument?
A
Bill of Exchange
B
Bank Notes
C
Cheques
D
Bill of Lading
80
A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling for a commission proportionate to the value of the transaction is called a
A
commissioned agent
B
del-credere agent
C
factor
D
speculator
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