JAMB - Commerce (2016)

1
The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as
Answer
(A)
demurrage charges
2
The process whereby a firm directs its marketing efforts towards a single market by the use of a particular marketing mix is referred to as
Answer
(A)
concentration segmentation
3
The function of money that is mostly affected by inflation is
Answer
(A)
store of value
4
Ordianry warehouse is usually owned and used by
Answer
(D)
wholesalers
5
The winding up of a firm by a resolution of its shareholders is an example of
Answer
(A)
voluntary liquidation
6
Which of the following is used for temporary storage of data on a computer?
Answer
(A)
RAM
7
An advantage of the Second-Tier Securities Market to an economy is in
Answer
(A)
creating avenues for investment
8
The lumbering of trees by a furniture company is an example of
Answer
(A)
primary production
9
Which of the following types of occupation involues services that can be referred to as auxiliaries trade?
Answer
(D)
Commercial occupation
10
The transformation of cotton into clothings is an example of
Answer
(A)
secondary production
11
A basic concept of advertising that reveals the essential message an advertiser wishes to communicate is referred to as the
Answer
(A)
medium
12
The type of wholesaler that combines selling, delivery and collection in one operation is
Answer
(D)
truck wholesaler
13
Given \(\frac{\text{index of export price}}{\text{index of import price}}\) X \(\frac{100}{1}\)

The formular above can be used to determine the
Answer
(C)
tearms of trade
14
Commission on turnover is usually a benefit accruable to the
Answer
(D)
payee
15
Avast is an example of
Answer
(C)
an antivirus
16
The component of balance of payments which shows how the balance of both current and capital accounts are settled is know as
Answer
(B)
monetary movement account
17
The act of interpreting ideas within an organization is
Answer
(D)
communicating
18
One of the duties of the employer to his employee is to
Answer
(D)
provide job security
19
The buying and selling of goods and services is referred to as
Answer
(A)
trading
20
A document that serves as an instument for perferential tariff is referred to as
Answer
(B)
a certificate of origin
21
Funds used for paying wages, salaries and payments for raw materials are categorized under
Answer
(B)
circulating capital
22
A formal letter to a dealer to enquire details about certain items for sale is referred to as
Answer
(A)
an inquiry
23
The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is
Answer
(B)
market skimming
24
In the transportation industry, dead freight is used to describe the
Answer
(A)
cost paid for an empty space left in the ship
25
When expenses on trading are deducted, the result is the
Answer
(B)
net profit
26
A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only
Answer
(D)
after the offeree's letter has been recieved by the offeror
27
Which of the followingis a modern trend in retailing ?
Answer
(C)
Vending machine
28
Which of the following is a traditional medium of communication used to mark festivals?
Answer
(C)
Talking drum
29
One of the functions of the retailer is
Answer
(B)
provision of after - sales services
30
One of the factors of determining the volume of production is
Answer
(D)
the number of skilled manpower
31
The minimum lending rate of a bank is a component of its
Answer
(A)
current assets
32
Which of the following is the best method for computing working capital
Answer
(A)
Total assets less current liabilities
33
One of the functions of the Nigerian Ports Authority is that it
Answer
(D)
provides warehosing facilities at the docks
34
An ancillary to trade which promotes socio - cultural development all over the world is
Answer
(C)
tourism
35
An association that acts as a watchdog between enterpreneurs and government to protect trade from any unfavourable laws is said to be a
Answer
(C)
Chamber of Commerce
36
Labour as an input in production can be motivated by
Answer
(C)
remuneration
37
Discharging certian duties by an organization to the public to gain high patronage is a concern of ?
Answer
(D)
social responsibility
38
Complying with the rules relating to the conduct of business activities in a country is an aspect of
Answer
(C)
legal environment
39
Which of the following is a legal tender?
Answer
(C)
Bank note
40
Which of the following is NOT backed by gold but by government securites?
Answer
(A)
Fiduciary note
41
Where a manufacturer doesn't collects money from wholesalers in exchange for goods produced is referred to as
Answer
(C)
trade credit
42
Quantity discount is offerred mainly to persuade the buyer to
Answer
(D)
purchase more
43
The placement of workers based on their qualifications can be categorized under
Answer
(B)
skilled labour
44
A group of computers that exchange data is referred to as
Answer
(B)
a network
45
The form of credit sales common to low income groups is
Answer
(C)
booking -me -down