JAMB - Commerce (2003)

• 1

  An example of a service-rendering trade association is?

  回答

  (A)

  Nigeria Bar Association
• 2

  An obstacle to international trade is?

  回答

  (D)

  cost of finance
• 3

  The right of ownership with respect to goods or property is?

  回答

  (D)

  certificate of occupancy
• 4

  The main motive of chambers of commerce and trade association is to?

  回答

  (D)

  protect and promote the interests of members
• 5

  A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as?

  回答

  (C)

  structure
• 6

  Goods that are manufactured or acquired by the seller after the contract of sale are?

  回答

  (C)

  specific goods
• 7

  Use the information below to answer questions 7 and 8.
  
  Ojo purchased the following items from Sani at the specified prices on credit:
  200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.
  Sani allowed 10% trade discount and 5% cash discount if payment is made within the agreed period. Ojo paid within the agreed period.
  
  What was the amount paid by Ojo?

  回答

  (C)

  N363,375
• 8

  Ojo purchased the following items from Sani at the specified prices on credit:
  200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.
  Sani allowed 10% trade discount and 5% cash discount if payment is made within the agreed period. Ojo paid within the agreed period.

  How much was the trade discount?

  回答

  (A)

  N42.500
• 9

  The basic functin of the Nigeria Ports Authority is to?

  回答

  (D)

  coordinate the activities of all the seaports in the country
• 10

  The concept that refers to the sale, transfer or exchange of goods and service is?

  回答

  (B)

  trade
• 11

  A guarantee given by one person or party to another in which the integrity of the person is assured is?

  回答

  (A)

  fidelity
• 12

  A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing?

  回答

  (D)

  markting concept
• 13

  The payment made periodically in respect of an insurance policy entered into is known as?

  回答

  (C)

  premium
• 14

  An example of service rendered by NIPOST is?

  回答

  (D)

  mail delivery
• 15

  The focal point of marketing is?

  回答

  (D)

  sales
• 16

  The type of marine insurance which covers either damage or loss to the vessel and such as caused by it to other vessel is?

  回答

  (A)

  hull insurance
• 17

  The management function that makes the difference in intensity of behavior is?

  回答

  (C)

  motivation
• 18

  One of the functions of seaports is the provision of?

  回答

  (B)

  loading and off-loading facilities
• 19

  The process of dividing task into jobs and departments and of delegating authority is known as?

  回答

  (D)

  organizing
• 20

  Communication process involves the transmission of a message over a selected channel to the?

  回答

  (A)

  receiver
• 21

  Stimulation of demand is a kind of communication in marketing which connotes?

  回答

  (C)

  advertising
• 22

  A functional structure is an organizational structure in which?

  回答

  (C)

  a specialist enforces his directives
• 23

  Entrepreneurship mainly involves?

  回答

  (A)

  risk-taking
• 24

  In the event of the liquidation of a company, the first to be settled are?

  回答

  (A)

  debenture holders
• 25

  The business organization established mainly for the purpose of carrying out specific assignments for a specific duration is a?

  回答

  (A)

  joint venture
• 26

  Which oft these factors of production is relatively fixed in supply?

  回答

  (D)

  Natural resources
• 27

  The location of a business is mostly influenced by?

  回答

  (D)

  environment
• 28

  The evolution of commerce in Nigeria is traceable to the?

  回答

  (B)

  desire by human beings to satify their needs through the services of other people inthe society
• 29

  One of the requirements necessary for setting up a business is?

  回答

  (C)

  knowledge of the business
• 30

  The assembling of products into usable forms is known as?

  回答

  (A)

  construction
• 31

  The government policy thrust on the business environment is to?

  回答

  (B)

  attract investors
• 32

  The act of a person employing another to enter into a contract on his behalf is known as?

  回答

  (D)

  agency
• 33

  Social responsibility of an organization to?

  回答

  (C)

  contribute to sustaining and developing its community
• 34

  The ECOBANK is the initiative of?

  回答

  (C)

  West African states tto foster trade
• 35

  Privatization is concerned with?

  回答

  (C)

  the individual ownership of companies
• 36

  Electronic computers differ and minimize errors in a?

  回答

  (A)

  faster and more accurate manner
• 37

  A major benefit derivable from the privatization and commercialization of public enterprises in Nigeria is?

  回答

  (D)

  revenue generation
• 38

  The device which interprets and carries out the instructions presented to it by the computer program is known as?

  回答

  (B)

  microprocessor
• 39

  The market structure, business conditions and financial system in Nigeria constitute the?

  回答

  (A)

  economic enironment
• 40

  The protection of consumers against exploitation by manufacturers is to ensure?

  回答

  (B)

  that the right quality of goods and services is sold
• 41

  The most widely used computer language that focuses on solving science-oriented problems is?

  回答

  (A)

  FORTRAN
• 42

  Banks are engaged in the business of buying and selling of?

  回答

  (A)

  bills of exchange
• 43

  A source of short-term finance to companies is?

  回答

  (C)

  retained earnings
• 44

  An essential factor for evaluating the different sources of funds for a business is the?

  回答

  (B)

  ownership structure of the business concern
• 45

  The body with the responsibility to register shares for subscription on the stock market in Nigeria is the?

  回答

  (A)

  Securties and Exchange Commission