Jamb Commerce 2006 Past Questions and Answers

Question 41:

• JAMB 2006

The Customs and Excise Department is responsible for the the collection of?

A. Royalties
B. Tariffs
C. Taxes
D. Charges

Question 42:

• JAMB 2006

A shop which consist of many stores trading under a single roof and which stocks varieties of goods with each unit having its own head is a?

A. Mulitple shop
B. Supermarket
C. Superstore
D. Departmental store

Question 43:

• JAMB 2006

An objective of the farmers' association is to?

A. Ensure that the prices of goods are fair and reasonable
B. Correct the imbalance between consumers and producers
C. Improve the methods of selling and advertising
D. Provide a stable market outlet for farm inputs

Question 44:

• JAMB 2006

The documents used in the purchase and sale of goods which contain other terms of trade are?

A. Debit note and credit note
B. Delivery note and advice nopt
C. Invoice and order
D. Quotation and invoice

Question 45:

• JAMB 2006

In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as?

A. Counter trade
B. Balance of trade
C. Balance of payments
D. Terms of trade