Jamb Commerce 1999 Past Questions and Answers

Question 11:

• JAMB 1999

A business whose owners enjoys loan facilities on the basis of personal goodwill is a?

A. Commercial bank
B. Thrift society
C. Co-operative society
D. Community bank

Question 12:

• JAMB 1999

Which of the following is not a veritable source of funds to a public limited company?

A. Government financial grant
B. Advances and loan from banks
C. Internally generated funds
D. Funds from the sale of shares

Question 13:

• JAMB 1999

Use the document below to answer question
Okon Etim Esin is the?

A. Debtor
B. Creditor
C. Exporter
D. Importer

Question 14:

• JAMB 1999

The document represents a

A. Bill of exchange
B. Cheque
C. Money order
D. A. Promissory note

Question 15:

• JAMB 1999

The term ‘5 Net 7’ on an invoice means that?

A. 5% discount will be allowed on the price charged if payment is made within seven days
B. 5% discount will be allowed on the price charged if payment is made after seven days
C. 5% surcharge will be made unless payment is made within seven days
D. 5% dicount will be allowed on the charged if the goods are bought within seven days