Trade - Jamb Commerce Past Questions and Answers

Question 31:

• JAMB 1995

Most foreign trade transaction are paid for through the use of

A. Central bank cheques
B. Bank drafts drawn by commercial banks on their foreign branches
C. Irrevocable and confirmed letters of credit
D. Letters of credit authenticated by the embassies of the respective countries

Question 32:

• JAMB 1997

The cost of transporting goods to consumers called

A. Carried inward
B. Carried forward
C. Carried paid
D. Carried outward

Question 33:

• JAMB 1997

The cost of transporting goods to consumers called

A. Carried inward
B. Carried forward
C. Carried paid
D. Carried outward

Question 34:

• JAMB 1997

In foreign trade, document of title is known as

A. Bill of lading
B. Bill at sight
C. Certifiate of origin
D. Declaration form

Question 35:

• JAMB 1997

Excise duties are paid on goods that are

A. Imported into the country
B. Manufactured within the company
C. Exported to other clonutries
D. Kept in bond warehouses