Jamb Commerce Past Questions and Answers

Question 1096:

• JAMB 2014

A document recording the transactions of an organization with its customer for a specified period which normally shows the indebtedness of one to the other is a

A. Statement of account
B. Consular invoice
C. Proforma invoice
D. Statement affairs

Question 1097:

• JAMB 2014

In response to an inquiry from a customer, a wholesaler is expected to send back

A. A consignment note
B. An order
C. A qoutation
D. An advice note

Question 1098:

• JAMB 2014

A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue

A. An invoice for #200
B. A debit note for #2,00
C. A credit note for #1,800
D. A debit note for #1,800

Question 1099:

• JAMB 2014

Tourists with no fixed address in a town may receive their letters from post office through a

A. Poste restante
B. Parcel post
C. Private mail bag
D. Recorded delivery

Question 1100:

• JAMB 2014

Endowment policy in insurance business is an aspect of

A. Accident insurance policy
B. Fidelity guarantee insurance policy
C. Motor vehicle insurance policy
D. Life assurance policy