Free 30+ Likely/Possible JAMB 2018 Commerce Questions and Answers for March

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2018 JAMB Likely Commerce Questions and Answers for revision purposes.

1 :- Alpha Limited manufacturers consumes goods. It prepares a document to accompany the goods to be exported . The document prepared by alpha limited IS
CORRECT ANSWER = A certificate of origin

2 :- Granting credit facilities t consumers is a function of

3 :- One of the sources of capital for a sole proprietor is
CORRECT ANSWER = Trade credit

4 :- The warehouse owned by individuals for repackaging of goods is
CORRECT ANSWER = Wholesale warehouse

5 :- One of the major concerns of commercial activities is to
CORRECT ANSWER =Improves people standard of living

6 :- In order to increase sales, an ancillary to trade that can be used to stimulate demand is
CORRECT ANSWER = Advertising

7 :- When a business firms embark on advertorials that reveal the feature of its product, it has rendered it
CORRECT ANSWER = Social responsibility

8 :- The total assets of a business can be calculated as
CORRECT ANSWER = Fixed asset plus current assest

9 :- An account in which money is saved for a specified period of time to earn an interest is reffered to as
CORRECT ANSWER =Deposit account

10 :- The document that indicates a contract of carriage of goods between an exporter and the shipping company is a
CORRECT ANSWER = Bill of lading

11 :- Commerce came into being as a result of
CORRECT ANSWER = Society needs and wants

12 :- Which of the following is often referred to as an artificial person in law
CORRECT ANSWER = Limited liability company

13 :- The ROM differs from RAM in that the former
CORRECT ANSWER = Has wider storage capacity

14 :- The means of posting large numbers of mails in a big firm is through the use of
CORRECT ANSWER = Franking machines

15 :- The responsibility of influencing legislation and promoting commercial activities are the concern of
CORRECT ANSWER = chambers of commerce

16 :- Which of the following has the value of money and commodity

17 :- If a tanker already loaded a got burnt in transit, the contract has been discharged by
CORRECT ANSWER = Frustration

18 :- The services rendered by a housemaid is an example of
CORRECT ANSWER = Direct service

19 :- Which of the following encourages international division of labour
CORRECT ANSWER = Multilateral trade

20 :- The main storage device for personal computer is the
CORRECT ANSWER = Hard Disk drive

21 :- A document sent to a company goods in transit is referred to as
CORRECT ANSWER = Certificate of insurance

22 :- A place where investors meet to buy and sell existing securities is called
CORRECT ANSWER = A stock market

23 :- The average stock is

24 :- A retail device that automatically dispense products when money is inserted in t0 is a
CORRECT ANSWER = Vending machine

25 :- The quality of money that enables it to stand the test of time is
CORRECT ANSWER = durability

26 :- An important consideration in life of a product is the
CORRECT ANSWER = Pricing of the product

27 :- The factors that influences the achievement of organisational goals are
CORRECT ANSWER = Internal and external

28 :- In order to achieve a set of objective, coordination of all factors is done by
CORRECT ANSWER = An entrepreneur

29 :- The function of money used to ascertain the worth of goods and services is
CORRECT ANSWER = Measure of value

30 :- The merit of money as a medium of exchange is that it
CORRECT ANSWER = Facilitate differed payment

31 :- An example of concentration segmentation strategy is when a firm produces
CORRECT ANSWER = Shoes and clothing

32 :- What is the cost of goods sold

33 :- One of the roles of advertising in business is to
CORRECT ANSWER = Regulates the volume of production

34 :- Displaying goods and demonstrating its use ia a commercial activity classified as
CORRECT ANSWER = sales promotion

35 :- If Michael and CBC commercial Bank are legally bound to carry out their obligation. The contract is said to be

36 :- Messenger, cleaner and gardener are examples of
CORRECT ANSWER = Unskilled labour

37 :- Trading certificate permits a company to
CORRECT ANSWER = Commence business activities

38 :- The mining of gold by a firm is an example of
CORRECT ANSWER = Primary production

39 :- Which of the following means of transporting chemicals?

40 :- Customs duty is imposed when

CORRECT ANSWER = the goods from another country are coming into Nigeria







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