by Sunday | Dec 10 | Commerce JAMB
A. A contact B. an acceptance C. a rejection D. a rejection Correct Answer: Option D – a rejection Explanation A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. Consensus ad idem in...
by Sunday | Dec 10 | Commerce JAMB
A. Transfer of ownership from individual to government B. Transfer of ownership from government to stakeholders C. Transfer of ownership from government to individuals D. Government taking charge of all businesses Correct Answer: Option C – Transfer of ownership...
by Sunday | Dec 10 | Commerce JAMB
A. Ministry of commerce and industry B. Chambers of commerce D. The federal Government D. Manufacturer’s Association of Nigeria Correct Answer: Option B – Chambers of commerce Explanation A chamber of commerce (or board of trade) is a form of business network,...
by Sunday | Dec 10 | Commerce JAMB
A. Funds B. Labour C. Raw materials D. Machinery Correct Answer: Option A – Funds Explanation Sole proprietorship is solely financed by the owner and money from family and friends and most times it’s difficult to raise funds The main disadvantages to being a...
by Sunday | Dec 10 | Commerce JAMB
A. Credit card B. Cheque C. Transfer D. Withdrawal form Correct Answer: Option B – Cheque Explanation Current account holder withdraws money using cheque, a cheque is an order to a bank to pay a stated sum from the drawer’s account, written on a specially...
by Sunday | Dec 10 | Commerce JAMB
A. Dumping B. hedging C. fair trading D. under sale Correct Answer: Option A – Dumping Explanation Dumping is a term used in the context of international trade. It’s when a country or company exports a product at a price that is lower in the foreign...