Jamb Commerce 2017 Past Questions and Answers

Question 6:

• JAMB 2017

An instrument used in lieu of legal tender is known as ______?

A. Token money
B. Commodity money
C. Fiat money
D. Representative

Question 7:

• JAMB 2017

At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________?

A. An auctioneer
B. A broker
C. A liquidator
D. An auditor

Question 8:

• JAMB 2017

The process of converting a non-profit making organisation to a profit-making business is ________?

A. Indigenisation
B. Privatisation
C. Deregulation
D. Commercialisation

Question 9:

• JAMB 2017

The letters E and OE stands for __________?

A. Errors of exception
B. Errors and omissions excepted
C. Estimated and order error
D. End of error

Question 10:

• JAMB 2017

When a buyer has been overcharged for goods supplied, the seller issues a _______?

A. Debit note
B. Proforma invoice
C. Letter of credit
D. Credit note