JAMB - Commerce (2018)
1
The act of selling in a foreign market at a price lower than the cost price is called
2
Current account holders withdraw money through
3
One of the major problems of a sole proprietor is sourcing for
4
Which of the following is a verbal means of communication
5
Trade fairs in Nigeria are organized by
6
Answer(C)
Transfer of ownership from government to individuals
7
In the law of contact, a counter offer operates as
8
Answer(B)
A physical restriction placed on quantity of goods that can be imported
9
Which of the following functions is not performed by warehousing?
Answer(C)
creating scarcity of goods
10
One of these is a current asset
11
From which of the following sources can partnership increase their capital?
Answer(B)
Admission of new partners
12
One of the disadvantages of rail transport is
13
The Central Bank Monetary policy instrument by which it buys and sells securities is called
14
The duties paid on goods produced locally is
15
A title, symbol, or design that distinguishes a company is called
16
The board of directors of public enterprise is appointed by who?
17
The factors which critically determines the choice of occupation is
18
Bank overdraft as a short term source of fund is
19
Which of the following has power to order withdrawal of a particular food item from circulation?
Answer(A)
Food and Drug Department of the Federal Ministry of Health
20
In Nigeria, the ministry in charge of registering trade association is that of
21
Why is clear bill of lading called so?
Answer(B)
It shows no records of damaged goods
22
Which is the fastest means of transportation?
23
A company which issues a promissory note in lieu of payment for goods purchased
Answer(D)
Is bound to redeem the note for cash on due date
24
The maximum number of shareholders in a public liability company is
25
The above chart represents the
Answer(A)
Marketing mix relationship
26
Chinyere agreed to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready at that date, Halima could
Answer(B)
Regard the contract between them as terminated
27
Money is generally acceptable for transaction due to
28
Which of the following regulates and controls the activities in the Nigeria Stock Exchange
29
------------------- is a source of short term capital?
30
A debenture holder is entitled to
31
The two main categories under which marine losses fall into are
Answer(A)
Total loss and partial loss
32
In a public limited liability company, planning is carried out by
33
One of the major disadvantages of pipeline transportation is its
34
The sale of second hand securities is done in which market
35
An organization which focuses on consumers satisfaction is practicing
36
Distribution of goods belongs to
37
What do we call agreement between two people enforced by law?
38
A disadvantage of personal selling is that it
Answer(C)
Increases a company’s operating costs
39
One of the principles of insurance is
40
When does the buyer in a hire purchase becomes the owner of the goods?
Answer(A)
When all installments have been fully paid
41
Why will a cheque be dishonored?
42
The elements in marketing mix that ensures goods are available when and where needed is
43
Balance of payment consist of ----------- and ---------- items
44
The satisfaction of consumer is best explained by
45
The internet is a system of telecommunication used for
Answer(A)
The internet is a system of telecommunication used for providing a variety of information and communication facilities,
46
Goods and services are made available to consumers through
Answer(C)
The channel of distribution
47
What’s the first form an applicant must complete before taking an insurance policy?
48
What is the difference between current assets and current liabilities?
49
An arrangement by independent firms to share the market of their products on quota basics Is referred to as
50
When does production ends?
Answer(C)
When the goods reaches the final consumers
51
The main objective of corporate mergers is to?
Answer(D)
enhance economies of scale
52
Answer(B)
issue of shares by a company only to the founders of the company
53
The direct authority of a superior over his subordinate is known as?
54
consumer sovereignty means that the consumer is?
55
Taking a new product to a particular part of the country to test the reaction of consumers to the product is referred to as?
56
when it becomes necessary to liquidate a company, the first step to be taken is the appointment of a?
57
Transportation, retailing and wholesaling industries rely heavily on?
58
Erroneous real arrangement of financial figure such as writing N624 as N264 is called?
59
The business organisation in which shareholders have equal votes is?
60
Excise duties are paid on goods that are?
Answer(B)
manufactured within the country
61
A person who undertakes any risk in insurance business is known as ?
62
Bank giro is a system where?
Answer(C)
a customer uses a cheque to pay several bills.
63
one of the criteria for differenciating consumer markets from industrial ones is the?
Answer(C)
nature of service rendered
64
The main objective of a trade association can best be described as promoting and protecting ?
65
When a vendor supplies news papers from house to house and across the streets, the element of marketing mix involved is?
66
Sudden technological changes can have the effect of making?
Answer(B)
a company's product obsolete
67
One of the factors which critically determines the choice of occupation is?
68
Extractive industries may also be denominated as?
69
services which are of absolute monopoly can best be provided by?
70
The share capital value that forms part of the balance sheet total is the?
71
A printer that burns the print image into the photosensitive drum is called?
72
The insurance principle that requires full disclosure of information on the insured is known as ?
73
On liquidation of a public limited liability company, the residual owners are the?
74
A form of money that has gone out of use is ?
75
The three components of staffing are?
Answer(B)
recruitment, selection and placement
76
A chamber of commerce is an association made up of?
77
The first known legislation to protect consumer rights in Nigeria is the?
78
A form of ownership which exploits the strenght of one partner to remedy the weakness of the other is the?
79
i. personal savings. ii. retained earnings iii. accrued taxes. Which of the items constitute internal sources of financing for companies?
80
A merchant wholesaler is referred to as?
81
A pro forma invoice is sent to inform a buyer about the?
82
warehousing is a productive function because it increases the?
83
The temporary working area of the control processing unit is called the?
84
one of the obstacles to achieving the objectives of ECOWAS is?
85
The agency in Nigeria which ensures that products conform with government quality specifications is the?
Answer(A)
standard organisation of Nigeria
