Jamb Commerce 2001 Past Questions and Answers

Question 16:

• JAMB 2001

One of the reasons why wholesaling must continue is that?

A. The tax paid by wholesalers on their profit enhances national revenue
B. By creating artificial scarcity, the wholesaler is enhencing competition
C. The wholesaler provides technical advice to the retailer
D. The gap between manufacturers and retailers is reduce byn wholesalers

Question 17:

• JAMB 2001

The merchant wholesaler is referred to as

A. Del-credere agent
B. A broker
C. Rack jobber
D. A factor

Question 18:

• JAMB 2001

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

A. Quantity of goods
B. Prices of goods
C. Designation of goods
D. Quality of goods

Question 19:

• JAMB 2001

The balance of payments of countries is

A. A record of imports and export
B. A systematic record of transaction among countries at a given time
C. The current and the capital accounts and their payments
D. The trade relationships and payment among nations

Question 20:

• JAMB 2001

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

A. Quotation, order and invoice
B. Placement, order and invoice
C. Bargin, order and invoice
D. Order, sale, and invoice