Procedure and documentation - Jamb Commerce Past Questions and Answers

Question 41:

• JAMB 2016

Where a manufacturer doesn't collects money from wholesalers in exchange for goods produced is referred to as

A. Charge account
B. Trading checks
C. Trade credit
D. I owe you

Question 42:

• JAMB 2017

A bill of exchange already accepted can be discounted by the holder in ______?

A. The central bank
B. At least two banks
C. His bank
D. Any bank

Question 43:

• JAMB 2017

When a buyer has been overcharged for goods supplied, the seller issues a _______?

A. Debit note
B. Proforma invoice
C. Letter of credit
D. Credit note

Question 44:

• JAMB 2017

What document is required when a country imposes valorem import duties on goods?

A. Mail transfer
B. Shipping note
C. Bill of lading
D. Consular invoice

Question 45:

• JAMB 2018

Why is clear bill of lading called so?

A. It shows records of damaged goods
B. It shows no records of damaged goods
C. It is a clear bill
D. It signifies no debt is owed