by Sunday | Dec 11 | Commerce JAMB
A. type of demand B. type of supply C. nature of service rendered D. price of the goods Correct Answer: Option C – nature of service rendered Explanation The basic difference is Industrial market (Factor Market) is the market which produces goods and services,...
by Sunday | Dec 11 | Commerce JAMB
A. commercial banks can give loan to all customers. B. a central bank opens accounts for commercial banks C. a customer uses a cheque to pay several bills. D. a customer closes his account by writing a cheque Correct Answer: Option C – a customer uses a cheque...
by Sunday | Dec 11 | Commerce JAMB
A. a broker B. an underwriter C. an insurer D. an actuary Correct Answer: Option B – an underwriter Explanation An underwriter is any party that evaluates and assumes another party’s risk for a fee, such as a commission, premium, spread or interest....
by Sunday | Dec 11 | Commerce JAMB
A. imported into the country B. manufactured within the country C. exported to other countries D. kept in bonded warehouse Correct Answer: Option B – manufactured within the country Explanation Excises are often associated with customs duties (which are levied...
by Sunday | Dec 11 | Commerce JAMB
A. sole proprietorship B. partnership C. cooperative D. limited liability company Correct Answer: Option C – cooperative Explanation The business of co-operative society is generally managed by a committee elected by the members at annual general meeting. Since...
by Sunday | Dec 11 | Commerce JAMB
A. omission B. commission C. transposition D. principle Correct Answer: Option C – transposition Explanation A transposition error is a simple error of data entry that occurs when two digits that are either individual or part of a larger sequence of numbers are...