Jamb Commerce Past Questions and Answers

Question 861:

• JAMB 2009

The most important reason for the existence of insurance business is to?

A. Prevent the occurrence of any loss
B. Spread losses to all covered participants
C. Provide for the replacement of facilities
D. Encourage individuals to save

Question 862:

• JAMB 2009

One major advantage of transportation to a business is to?

A. Extend the firm's market coverage
B. Ensure that goods are produced faster
C. Procure raw materials cheaply
D. Ensure the quality of products

Question 863:

• JAMB 2009

Warehousing is important to manufacturers because it helps to?

A. Improve the quality of goods
B. Produce goods in advance
C. Meet the demand of customers
D. Determine input rquirements

Question 864:

• JAMB 2009

One of the major problems of a sole proprietor is sourcing for?

A. Raw materials
B. Labour
C. Machineries
D. Funds

Question 865:

• JAMB 2009

In a public limited liability company, planning is carried out by?

A. The chairman of the board
B. The board of directors
C. Shareholders
D. Employees