Jamb Commerce 2012 Past Questions and Answers

Question 11:

• JAMB 2012

A document which serves as an order with details of goods required by an intending purchaser is

A. A freight note
B. An indent
C. A bill of landing
D. A way bill

Question 12:

• JAMB 2012

If a customer pays within nine days of receiving goods and takes advantage of 3% off the invoice price, this is stated as

A. 3/9;net 30
B. 9/27;net 30
C. 30;net 9/3
D. 9/30;net 3

Question 13:

• JAMB 2012

Which of the following is a characteristic of a bearer cheque

A. It is made with transverse lines
B. It is made payable to whoever presents it
C. It is made without transverse lines
D. It is only payable into the payees account

Question 14:

• JAMB 2012

A bill of exchange paid before its due date at an amount less than its face value is said to have been

A. Accepted
B. Rejected
C. Discounted
D. Dishonoured

Question 15:

• JAMB 2012

The most effective type of advertising for branded products is

A. Mass advertising
B. Persuasive advertising
C. Informative advertising
D. Competitive advertising