JAMB Commerce 2001 Past Questions

The pivot on the wheel of commerce rotates is

A distinguishing characteristic of labour is that it is

Land as a factor of production does not vary in?

Which of the following services does a lawyer render?

The partner that only contributes part of the capital used in the formation and running of a business is known as?

One major advantage of a credit and thrift cooperative is that

A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a?

At the collapse of a business enterprise, the person appointed to dispose of all assets is called

Entrusting the management of a company to the courts to enable the settlement of the company’s obligations is an indication of?

The capital employed is

The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is?

(i) Personal Savings
(ii)Retained Earnings
(iii)Accrued taxes
Which of the items above constitute internal sources of financing for companies?

The difference between total current assets and total current liabilities of a business is known as

The capital owned is

One of the reasons why wholesaling must continue is that?

The merchant wholesaler is referred to as

A pro-forma invoice is sent to inform a buyer about the

The balance of payments of countries is

The major procedures in the purchase and sale of goods are enquiry

Use the information below to answer question 20 and 21

Mr Awala is a retailer of a single product. he sells at the standard price. He gives a trade discount of 5%, quantity discount of 3% for a volume above 1000 units and a cash of discount of 2/10 net 30. the existing selling price of the product is N100 per units. Mr Bacus purchased 1500 units of the product on credit and promised to pay Mr. Awala in cash in the first 10 days after purchase.

The trade discount receivable by Mr Bacus is

If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?

Bank Giro is a method of settling debt from a

Warehousing is a productive function because it increase the

A factor necessary for siting a warehouse is nearness to

Pooling of risk in insurance means that?

The major difference between insurance and assurance is that while insurance

A documentary bill will normally be accompanied by

Which of the following best describes the classification of computer?

The temporary working area of the central processing unit is called the?

The significance of money to modern economic system is that it?

One major characteristic of credit unions and thrift societies is that?

The Nigerian Stock Exchange publishes a daily official list that gives full information on the?

The main factors that determine the value of a stock on the stock Exchange are dividend and

One of the main objectives of the Second-tier Securities Market in Nigeria is to

The activities aimed at finding out customers' needs and satisfaction can be described as?

The most effective type of advertising for branded product is?

Use the information below to answer 38 and 39.

Companies i, ii, iii and iv produce and sell electronic videos.

Company i, sells video for N14,000 each and offers advice on how to fix and operate them .

Company ii, sells at N14,000 and its representatives go to install at no additional cost.

Company iii, sells at N15,500 and offers credit sales at N15,000 each.



Which of these companies are more engaged in public activities?

Which of these companies offers after-sales services?

Use the information below to answer question 40 and 41.
Musa rented a room to adamu for N1,500 and N1,000 part-payment was made. Adamu brought Audu and Jacob his friends to stay in the room.
The two friends later paid balance of N500 to Musa.

Who are the parties to the contract of renting the room?

Who is the offeree in this contract ?

Who is the offeree in this contract ?

The maximum number of shareholders in a public liability company is?

One way government reduces the repatriation of capital is through

One of the major function of a chamber of commerce is to

Departmentalization is an aspect of?

A function organization structure is where?

In the line type of organizational structure,

proper disposal of waste by business firms is one way of discharging their?

One of the obstacles to achieving the objectives of ECOWAS is?

One of the main obstacles of establishing the Niger River Basin Commission was to?