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JAMB COMMERCE PAST QUESTIONS

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JAMB COMMERCE PAST QUESTIONS

JAMB COMMERCE PAST QUESTIONS 1

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

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Category: JAMB COMMERCE PAST QUESTIONS

One of the disadvantages of rail transport is

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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

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Category: JAMB COMMERCE PAST QUESTIONS

The duties paid on goods produced locally is

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Category: JAMB COMMERCE PAST QUESTIONS

Which of the following is a legal tender?

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

The document issued by a port authority for goods deposited is a

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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 Capital5000
Net Profit1000
Furniture2000
Equipment2900
Debtors100
Stock1000
Bank500

 

From the above, calculate Current liabilities

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Category: JAMB COMMERCE PAST QUESTIONS

The factors which critically determines the choice of occupation is

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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

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Category: JAMB COMMERCE PAST QUESTIONS

The internet is a system of telecommunication used for

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Category: JAMB COMMERCE PAST QUESTIONS

One of the functions of the retailer is

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Category: JAMB COMMERCE PAST QUESTIONS

An ancillary to trade which promotes socio - cultural development all over the world is

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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 Capital5000
Net Profit1000
Furniture2000
Equipment2900
Debtors100
Stock1000
Bank500

 

From the above, calculate Fixed assets

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Category: JAMB COMMERCE PAST QUESTIONS

Current account holders withdraw money through

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

Communication enhances business activities by

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Category: JAMB COMMERCE PAST QUESTIONS

The production of goods and services in anticipation of demand is made possible by _______

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Category: JAMB COMMERCE PAST QUESTIONS

All but one does not provide an Indirect Service?

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Category: JAMB COMMERCE PAST QUESTIONS

Which of the following is NOT backed by gold but by government securites?

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

Funds used for paying wages, salaries and payments for raw materials are categorized under

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Category: JAMB COMMERCE PAST QUESTIONS

Bank overdraft as a short term source of fund is

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Category: JAMB COMMERCE PAST QUESTIONS

Examples of consumer goods include all except________

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

One of the major problems of a sole proprietor is sourcing for

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Category: JAMB COMMERCE PAST QUESTIONS

In product pricing, which of these elements need more consideration than others?

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Category: JAMB COMMERCE PAST QUESTIONS

When expenses on trading are deducted, the result is the

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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 Capital5000
Net Profit1000
Furniture2000
Equipment2900
Debtors100
Stock1000
Bank500

 

From the above, calculate Current assets

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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

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

Cooperation and friendliness are enhanced among nations through interdependence necessitated by

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

One of these is not a major in the production process?

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Category: JAMB COMMERCE PAST QUESTIONS

One of the disadvantages of Sole Proprietorship is__________

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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________

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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

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

The application of division of labour would generally bring about

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Category: JAMB COMMERCE PAST QUESTIONS

In the law of contact, a counter offer operates as

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Category: JAMB COMMERCE PAST QUESTIONS

The scope of commerce is limited to ________

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Category: JAMB COMMERCE PAST QUESTIONS

In Nigeria, the ministry in charge of registering trade association is that of

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Category: JAMB COMMERCE PAST QUESTIONS

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

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Category: JAMB COMMERCE PAST QUESTIONS

Which of the following is classified as an immaterial want?

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Category: JAMB COMMERCE PAST QUESTIONS

Trade fairs in Nigeria are organized by

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Category: JAMB COMMERCE PAST QUESTIONS

The major determinant of fire insurance premium is the

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Category: JAMB COMMERCE PAST QUESTIONS

The most important resources of business is_______

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Category: JAMB COMMERCE PAST QUESTIONS

One of the products of an extractive industry is

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Category: JAMB COMMERCE PAST QUESTIONS

One of the factors of determining the volume of production is

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Category: JAMB COMMERCE PAST QUESTIONS

To eliminate middlemen, there should be a retail outlet such as

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Category: JAMB COMMERCE PAST QUESTIONS

The type of activity which turns processed raw materials into consumer and industrial goods is described as ________

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Category: JAMB COMMERCE PAST QUESTIONS

Which of the following is a traditional medium of communication used to mark festivals?

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Category: JAMB COMMERCE PAST QUESTIONS

What is a Quota?

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Category: JAMB COMMERCE PAST QUESTIONS

A formal letter to a dealer to enquire details about certain items for sale is referred to as

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Category: JAMB COMMERCE PAST QUESTIONS

The world tourism organization has it headquarters in

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Category: JAMB COMMERCE PAST QUESTIONS

An important feature of land is that it

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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_________

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Category: JAMB COMMERCE PAST QUESTIONS

The effects of devaluation includes all except _______

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