Trade - Jamb Commerce Past Questions and Answers

Question 136:

• JAMB 2018

What is a Quota?

A. Tax pad on goods produced within a country
B. A physical restriction placed on quantity of goods that can be imported
C. Tax paid on goods produced outside a country
D. Ban on all imported goods

Question 137:

• JAMB 2018

The duties paid on goods produced locally is

A. Ad-valorem duty
B. Excise duty
C. Export duty
D. Quota

Question 138:

• JAMB 2018

Balance of payment consist of ----------- and ---------- items

A. Credit and loss
B. Visible and non-visible
C. Valid and invalid
D. Income and expenditure

Question 139:

• JAMB 2018

Excise duties are paid on goods that are?

A. Imported into the country
B. Manufactured within the country
C. Exported to other countries
D. Kept in bonded warehouse

Question 140:

• JAMB 2018

A merchant wholesaler is referred to as?

A. Del-credere agent
B. A broker
C. Rack jobber
D. A factor