Jamb Commerce Past Questions and Answers

Question 1206:

• JAMB 2016

A formal letter to a dealer to enquire details about certain items for sale is referred to as

A. An inquiry
B. An invoice
C. An order
D. A quotation

Question 1207:

• JAMB 2016

The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is

A. Target return pricing
B. Market skimming
C. Variable pricing
D. Market penetration

Question 1208:

• JAMB 2016

In the transportation industry, dead freight is used to describe the

A. Cost paid for an empty space left in the ship
B. Charge for each day a performance was delayed
C. Persons that hire a ship for a specific purpose
D. Cost of shipping a particular cargo for a specific voyage

Question 1209:

• JAMB 2016

When expenses on trading are deducted, the result is the

A. Rate of turn over
B. Net profit
C. Gross profit
D. Cost of goods sold

Question 1210:

• JAMB 2016

A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only

A. After the offeror has made an offer
B. When the offeror's letter has reached the offeree
C. When the offeree's letter has been posted
D. After the offeree's letter has been recieved by the offeror