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JAMB - Commerce (2004)

1
Ships that sail across the ocean and operate on scheduled time tables are?
Answer
(B)
ocean liners
2
Non-insurable risk include?
Answer
(A)
gambling
3
The program that makes up the operating system in a computer is?
Answer
(C)
system software
4
When an organization studies a market that is undeserved by others and creates a product or service for the segment, it is engaged in?
Answer
(D)
product differentiation
5
Coverage against unexpected events is called?
Answer
(A)
insurance
6
An insured risk which occurs accidentally as a result of deflects in a ship is?
Answer
(D)
a particular average
7
Communication enhances business activities by?
Answer
(A)
facilitating interaction between producers and consumers
8
In business, the computer is very important especially in?
Answer
(D)
information management
9
What is the most important use of promotion in marketing?
Answer
(C)
Information
10
The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the?
Answer
(D)
Bureau of Public ENterprises
11
The members of the Niger Basin Commission include?
Answer
(B)
Burkina Faso, Guinea and Nigeria
12
Business environment refers to all elements that are?
Answer
(D)
external to an organization but indirectly related to its operations
13
Consumer rights include the right to?
Answer
(C)
redress
14
One important requirement for the membership of the ECOWAS is?
Answer
(B)
independence
15
In Nigeria, the body ensures that its members operate according to their professional ethics is the?
Answer
(A)
SON
16
A transporter who had to sell some perishable goods without the prior authority of the owner becomes an agent by?
Answer
(B)
necessity
17
Poor sewage disposal, oil spill and indiscriminate refuse dumping all lead to?
Answer
(C)
land and water pollution
18
One of the advantages of commercialization is that it?
Answer
(A)
encourages entrepreneuership
19
A common element in all contracts is?
Answer
(D)
agreement
20
Sources of finance to a business include personal savings, share, debentures and?
Answer
(B)
bank overdraft
21
Charges for loans paid by commercial banks to the Central Bank of Nigeria are called?
Answer
(A)
bank rates
22
In a primary market, new shares are issued through?
Answer
(B)
a prospectus, an offer for sale and bill of exchange
23
The instruments of credit includes?
Answer
(C)
bills of exchange and promissory notes
24
The shares of a company listed on the stock exchange for sale are referred to as?
Answer
(D)
quoted shares
25
What is the role of the capita; market in the privatization exercise in Nigeria?
Answer
(A)
Selling the shares and stocks of the companies to be privtized
26
In international trade, documentary credit is also known as?
Answer
(B)
letters of credit
27
A specialized institution in Nigeria that deals in capital investments in the form of stocks, share, bond and debentures is the?
Answer
(A)
Securities and Exchanfge commission
28
A group of assets which a business acquires with the intention of reselling them are referred to as?
Answer
(A)
current assets
29
Authorized share capital is also known as?
Answer
(C)
registered share capital
30
An action taken by a company outside its object clause is regarded as?
Answer
(A)
ultra vires
31
The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is?
Answer
(C)
diversification
32
A written partnership contract is known as?
Answer
(B)
a deed
33
The merger of a textile mill, a cement company and a tannery is referred to as?
Answer
(B)
horizontal merger
34
The most important function of commerce is?
Answer
(B)
facilitaing exchanges among indiviuals and firms
35
The acronym PLC is used to identify a?
Answer
(C)
public company limited by shares
36
Commerce includes all the occupations concerned with?
Answer
(D)
distribution
37
Factors of production can be described as the?
Answer
(A)
resources required for the provision of goods and services
38
Fluctuations in the supply of goods may be eliminated if the distribution system maintains?
Answer
(A)
modern technology
39
Loan schemes by thrift societies are?
Answer
(C)
mutual schemes
40
An internal demand for goods to be purchased or drawn from stock is?
Answer
(B)
a requisition
41
The term 4 net 7 on an invoice means that?
Answer
(D)
4% discount will be allowed on the price charge if payment is made within seven days
42
An order sent by an importer to an overseas supplier stating the details of goods required is known as?
Answer
(C)
an indent
43
Organizing trade fairs in Nigeria is the responsibility of?
Answer
(B)
Federal Ministry of Commerce
44
International trade takes place as a result of?
Answer
(B)
inequitable distribution of natural resources
45
The use of vending machines in retailing is hindered in a developing economy owing to?
Answer
(D)
lack os steady power supply