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Commerce Past Questions

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1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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1,707 questions

Question 1 of 20 1,707 total questions

Question 651

jamb 2003

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

Aindustry

Btrade

Ctariff

Dmarketing

View Explanation & Discuss

Question 652

jamb 2003

The basic functin of the Nigeria Ports Authority is to?

Aensure that the right calibre of personnel is employed at the ports

Bcoordinate and regulate the activities of shipping lines

Cfacilitate and control the movement of goods and services into and out of the country

Dcoordinate the activities of all the seaports in the country

View Explanation & Discuss

Question 653

jamb 2003

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?

AN42.500

BN27,500

CN22,500

D20,000

View Explanation & Discuss

Question 654

jamb 2003

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?

AN382,500

BN425,000

CN363,375

DN61,625

View Explanation & Discuss

Question 655

jamb 2003

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

Aspecialty goods

Bfuture goods

Cspecific goods

Dgeneral goods

View Explanation & Discuss

Question 656

jamb 2003

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

Aselection

Bstrategy

Cstructure

Dsynergy

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Question 657

jamb 2003

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

Aassist governemnt in achieving its objective

Bprotect the interest of consumers

Cmaximize profit

Dprotect and promote the interests of members

View Explanation & Discuss

Question 658

jamb 2003

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

Aright of occupancy

Bproxy

Ctittle

Dcertificate of occupancy

View Explanation & Discuss

Question 659

jamb 2003

An obstacle to international trade is?

Atrade imbalance between countries

Bavailiability of local market

Cquantity and quality of labour

Dcost of finance

View Explanation & Discuss

Question 660

jamb 2003

An example of a service-rendering trade association is?

ANigeria Bar Association

BAssociation of Nigeria Miners

CCocoa Farmers' Association

DManufacturers' Association of Nigeria

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Question 661

jamb 2002

The founders ‘share are usually referred to as deferred shares because the holders?

Aare entitled to cumulative dividends

Breceive theirdividends after other shareholders

Creceive their diviends before shareholders

Dare not entitled to any dividends

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Question 662

jamb 2002

An advantage of hire purchase to the consumer is the?

Aeconomies of scale in production

Bpossession of goods before payment

Cincrease in turnover and profit

Dlow interest rate chargeable

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Question 663

jamb 2002

which of the following is an determines the quality of goods and that a retailer sells?

Athe mode of contract of sales

Bthe type of manufacturer

Cthe regulations regarding sales in the area

Dthe location of his shop

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Question 664

jamb 2002

Which of the following is an example of trade associations?

AEuropean Union

BNational Marketing Board

COrganization of African Unity

DNational Farmers' Council

View Explanation & Discuss

Question 665

jamb 2002

A group of companies is a collection of?

Asubsidiaries and their holding company

Bfirms

Cassociates and their holding company

Dindustries

View Explanation & Discuss

Question 666

jamb 2002

An important issue for consideration in the product element of the marketing mix is the?

Aadequate of the peroduct

Bchannel of diistribution of the product

Cprice of the product

Dplaning and development of the product

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Question 667

jamb 2002

The letters E and OE stand for?

Aerrors of exception

Berrors and omissions expected

Cestimate and order error

Dend of error

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Question 668

jamb 2002

The principal objectives of the Central Bank of Nigeria can be classified broadly into?

Abankers' bank lender of last resort and issuance of currency

Bservice, currency management and financial intermediation

Cbanking services, foreign exchange operations and open markets operations

Dservice, monetary policy and developmental functions

View Explanation & Discuss

Question 669

jamb 2002

In product pricing, which of this element needs more consideration than others?

Athe demand for the product

Bthe demography of the buyers of the product

Cthe economic conditions in the markkets

Dthe cost of producing the product

View Explanation & Discuss

Question 670

jamb 2002

Securities on which the buyers are not issued with certificate are called?

Aauthorized securities

Binscribed securities

Cbearer securities

Dregistered securities

View Explanation & Discuss

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