Jamb Commerce 1997 Past Questions and Answers

Question 31:

• JAMB 1997

The basic distinction between cash discount and trade discount is that while trade discount is

A. For a period of 30 days, cash discount is for a period of 3 months
B. Given by a wholesaler, cash discount is given by a bank
C. A reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value
D. A reduction in the value of sales, cash discount is a reduction in price of goods

Question 32:

• JAMB 1997

The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as

A. Excess charges
B. Demurrage charges
C. Permium charges
D. Trade charges

Question 33:

• JAMB 1997

Bank giro is a system where?

A. Commercial banks can give loan to all customers
B. A central bank opens account for commercial banks
C. A customer uses cheque to pay serveral bills
D. A customer closes his account by writting cheque

Question 34:

• JAMB 1997

Commercial banks are referred to as departmental stores of banking because they

A. Have many branches
B. Have many customers
C. Are found in the cities
D. Offer many types of services

Question 35:

• JAMB 1997

A markets where new shares are trade is known

A. Primary market
B. Stock exchange
C. Secondary markets
D. Money market