JAMB COMMERCE PAST QUESTIONS

Name: JAMB COMMERCE PAST QUESTIONS - 2022 | School Portal NG
Item: School Portal NG
Rating: 5
Author: School Portal NG

JAMB COMMERCE PAST QUESTIONS - 2022

JAMB COMMERCE PAST QUESTIONS

Attempt all 60 questions from our pool of questions. 60 questions will be picked automatically from our question bank.

You have 1 hour for this exam. You can re-take the exam again and again

Goodluck

1 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Current account holders withdraw money through

Withdrawal form

Cheque

Transfer

Credit card

2 / 60

Category: JAMB COMMERCE PAST QUESTIONS

In response to an inquiry from a customer, a wholesaler is expected to send back

a consignment note

a qoutation

an advice note

an order

3 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Complying with the rules relating to the conduct of business activities in a country is an aspect of

demographic environment

political environment

legal environment

cultural enviroment

4 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Which of the following best describes an invoice?

Contractual agreement for the sale of goods

Document specifying quantity, description, prices and total value of purchase .

Receipt containing necessary information about the goods.

Letter specifying the contractual sales of goods between two parties

5 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The application of division of labour would generally bring about

Cost efficiency in the production of goods and series.

Cheapness of goods and services

Increase in quantity of goods and services

Increase in variety of goods and services

6 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The business unit that applies the principle of one man, one vote is ______

sole proprietorship

public company

co-operative society

partnership

7 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The development of commerce in west Africa was not hampered by

Low savings

Inadequate capital

Inadequate means of transportation

Insurance

8 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The act of selling in a foreign market at a price lower than the cost price is called

fair trading

dumping

under sale

hedging

9 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The duties paid on goods produced locally is

quota

ad-valorem duty

export duty

excise duty

10 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be________

Aviation Insurance

The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be

Life Assurance

Marine Insurance

11 / 60

Category: JAMB COMMERCE PAST QUESTIONS

A partnership may be automatically dissolved due to the following factors except________

Court verdict

Bankruptcy of a partner

Joint decision

Admission of new partners

12 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Use the following information to answer this question.

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate Current assets

1600

600

1060

1500

13 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The board of directors of public enterprise is appointed by who?

employees

shareholders

management

government

14 / 60

Category: JAMB COMMERCE PAST QUESTIONS

In the transportation industry, dead freight is used to describe the

cost of shipping a particular cargo for a specific voyage

persons that hire a ship for a specific purpose

cost paid for an empty space left in the ship

charge for each day a performance was delayed

15 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Which of the followingis a modern trend in retailing ?

Tied shop

Mobile shop

Kiosk

Vending machine

16 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The document submitted to the customs authority when full description of imported goods is not provided is

an indent

an invoice

a bill of entry

a bill of sight

17 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Communication enhances business activities by

keeping the goods safe until they and needed

ensuring the movement of good forms the producer to the consumer

facilitating interaction between producers

facilitating interaction among media houses

18 / 60

Category: JAMB COMMERCE PAST QUESTIONS

One of these is a current asset

Machineries

Fittings

Motor vehicles

Stock

19 / 60

Category: JAMB COMMERCE PAST QUESTIONS

When an oil exploring and mining company builds a health centre in one community where at operates, such a company is

Fulfilling part of its social responsibility

Finding a way to spend excess profit

Carrying favour from local people

Investing its idle fund

20 / 60

See also COMMERCE POST UTME

Category: JAMB COMMERCE PAST QUESTIONS

One of the disadvantages of Sole Proprietorship is__________

It lacks specialization

Grants from government

It involves small capital

It requires small operations

21 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Examples of Commercial occupation are all except___________

Traders

Insurers

Bankers

Goldsmith

22 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The computer using linear integrated circuit technology complied with quantification of data in term of length and distance is

Digital Computer

Hybrid Computer

Main frame Computer

Analogue Computer

23 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Citizens are against privatization mainly because of

The likely hood of monopoly

Ineffective Management

Increased price of good and services

The ration dilation of organizations.

24 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The factors which critically determines the choice of occupation is

Aptitude

Skill

Training

Interest

25 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The effects of devaluation includes all except _______

increase in import

exports become cheaper

expansion of local industries

increase in standard of living

26 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Mrs Jones who lives in the riverine community of Rivers State makes her living through crabbing and fishing . This type of occupation she is in is

extractive

service

manufacturing

commercial

27 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Which of the following is classified as an immaterial want?

Raw materials

Goods and Services

Machines

Protection

28 / 60

Category: JAMB COMMERCE PAST QUESTIONS

In a law of contract, what is given in exchange for a promise to perform is_____

acceptance

consideration

offer

warranty

29 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Trade fairs in Nigeria are organized by

Ministry of commerce and industry

Manufacturer’s Association of Nigeria

Chambers of commerce

The federal Government

30 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The Central Bank Monetary policy instrument by which it buys and sells securities is called

Bank rate

Bank credit

Open market operation

Cash reserve ratio

31 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate Current liabilities

600

6000

3000

100

32 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The vessels that operate on specific route on high seas and oceans are

Passenger liners and Tramp liners

Passenger Liners and Cargo Liners

Coastal Liners and Cargo Liners

Cargo Liners and Tramp liners

33 / 60

Category: JAMB COMMERCE PAST QUESTIONS

One of the disadvantages of rail transport is

It works at intervals

Cost of transportation is high

It is not flexible

It carries bulky goods

34 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The major determinant of fire insurance premium is the

extent of fire damaged anticipated.

owner of the property

type and structure of the property to be insured

usefulness of the property to the owner

35 / 60

Category: JAMB COMMERCE PAST QUESTIONS

keeping the goods safe until they and needed

Distribution concept

Price concept

Marketing concept

Product concept

36 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Which of the following is a legal tender?

Travellers cheque

Cheque

Bank note

Goldsmith receipt

37 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The minimum lending rate of a bank is a component of its

debit balances

fixed assets

current assets

38 / 60

Category: JAMB COMMERCE PAST QUESTIONS

In Nigeria, it is mandatory for all business enterprises to be registered with the________

Corporate Affairs Commission

Agent

Enterprise

Government

39 / 60

Category: JAMB COMMERCE PAST QUESTIONS

One of the functions of the retailer is

warehousing of goods

branding and packaging of goods

granting credit facilities to close relatives

provision of after - sales services

40 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Cooperation and friendliness are enhanced among nations through interdependence necessitated by

tourism

socio-cultural activities

commerce

agriculture

41 / 60

Category: JAMB COMMERCE PAST QUESTIONS

A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only

when the offeror's letter has reached the offeree

after the offeror has made an offer

after the offeree's letter has been recieved by the offeror

when the offeree's letter has been posted

42 / 60

See also JAMB Accounting Past Questions

Category: JAMB COMMERCE PAST QUESTIONS

Which of the following has power to order withdrawal of a particular food item from circulation?

Local Government Health Inspectors

Standard Organization of Nigeria

Food and Drug Department of the Federal Ministry of Health

Federal High Courts in Nigeria

43 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The process of winding up or bringing a company to an end is________

Liquidation

Merger

Integrating

Dissolution

44 / 60

Category: JAMB COMMERCE PAST QUESTIONS

A self-contained chunk of code with principal aim to replies preferably undetected and to copy itself into the computer's memory and the computer's hard-disk is_________

Hardware

Software

Virus

Computer remedies

45 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The implied provisions in every sale of goods as contained in the sale of goods act of 1893 are conditions and

Sureties

Warranties

Consideration

Guaranties

46 / 60

Category: JAMB COMMERCE PAST QUESTIONS

A document recording the transactions of an organization with its customer for a specified period which normally shows the indebtedness of one to the other is a

consular invoice

statement affairs

statement of account

proforma invoice

47 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The world tourism organization has it headquarters in

Paris

Madrid

New York

London

48 / 60

Category: JAMB COMMERCE PAST QUESTIONS

A cheque drawn by a bank official on the bank’s deposit in another bank on a customer’s deposit in another bank

Bank draft

Promissory note

Bankers’ order

Travelers cheque

49 / 60

Category: JAMB COMMERCE PAST QUESTIONS

All but one is not an output devices?

Plotter

Printer

Joystick

Monitor

50 / 60

Category: JAMB COMMERCE PAST QUESTIONS

All but one does not provide an Indirect Service?

Civil Servants

Law Makers

Custom Officers

Family Doctors

51 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Which of the following functions is not performed by warehousing?

Stabilization of price

creating scarcity of goods

storage of goods

production ahead of demand

52 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The most important resources of business is_______

Material resources

Opportunities

Money resources

Human resources

53 / 60

Category: JAMB COMMERCE PAST QUESTIONS

In the law of contact, a counter offer operates as

a rejection

A contact

an acceptance

54 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is

target return pricing

market penetration

variable pricing

market skimming

55 / 60

Category: JAMB COMMERCE PAST QUESTIONS

One of the functions of the Nigerian Ports Authority is that it

gives preferential treatment to Nigerian investors

encourages the growth of infant industries

provides warehosing facilities at the docks

provides credit facilities to importers

56 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The internet is a system of telecommunication used for

Sending electronic message

Communicating messages through telegrams

Sending and renewing text message

Communicating long-distance

57 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Bank overdraft as a short term source of fund is

Grade to a newly opened account

Repayable after more than a year

A current liability

An overdrawn account

58 / 60

Category: JAMB COMMERCE PAST QUESTIONS

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate Fixed assets

2000

4900

600

6500

59 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Thee major aim of consumer orientation is_________

market research

what to produce

consumer satisfaction

consumer sovereignty

60 / 60

Category: JAMB COMMERCE PAST QUESTIONS

Tourists with no fixed address in a town may receive their letters from post office through a

recorded delivery

parcel post

poste restante

private mail bag

Email

Your score is

0%

Leave a Reply Cancel reply

Install School Portal NG to Home screen!