Question 146:

• JAMB 1994

The difference between the total payments for imports and the receipts from exports within a given period is referred to as

A. Balance of payments
B. Balance of trade
C. Comparative cost advantage
D. Comparative advantage

Question 147:

• JAMB 1994

A pro forma invoice is NOT required when

A. Quoting for the supply of goods
B. Goods are sent on approval
C. Dealing regularly with a customer
D. Final prices are uncertain

Question 148:

• JAMB 1994

Which of the following statements is TRUE about sea transport?

A. All ships have specific routes to ply
B. All ships must be insured at every journey
C. All ships are insured separately from the crew
D. All ships normally arrive at their destination with goods

Question 149:

• JAMB 1994

The postal organization which preceded the Nigerian Postal Service is

A. Post and Telecommunication
B. Post and Telephone
C. Post and Teleprinter
D. Post and Telegraph

Question 150:

• JAMB 1994

Goods discharged from ships on which import duties have not been paid are kept in the

A. Ordinary warehouse
B. Public warehouse
C. Private warehouse
D. Bonded warehouse