Jamb Commerce 2005 Past Questions and Answers

Question 21:

• JAMB 2005

The factors essential for tourism are?

A. Accessibility, capital, amenties, accessibility and scenery
B. Goods weather, amenties, accessibility and scenery
C. Amenties, capital, accessibility and markets
D. Good weather, capital, schools and scenery

Question 22:

• JAMB 2005

In CIF contracts, risk passes at the time of shipment but the property does not pass until?

A. There is physical transfer of goods
B. The shipping manifest are signed
C. The shipping documents are transferred
D. The goods on board are delivered

Question 23:

• JAMB 2005

A partnership is dissolved when?

A. The business suffers a loss
B. There is bankruptcy
C. There is consistent theft
D. There is misunderstanding between partners

Question 24:

• JAMB 2005

One of the disadvantages of a sole proprietorship is?

A. Secrecy of annual reports
B. Pride of ownership
C. Limited liability
D. Unlimited liability

Question 25:

• JAMB 2005

The most important concept on production is?

A. Utility
B. Wealth creation
C. Transformation
D. Distribution