Commerce Past Questions and Answers

Question 6 :

• JAMB 1994

Which of the following takes place when firms producing at different stages in the same industry combine?

A. conglomeration
B. vertical integration
C. horizontal integration
D. Cartel

Question 7 :

• JAMB 1994

Which of the following groups is paid first when a firm liquidates?

A. Preference shareholders
B. Debenture holders
C. Ordinary shareholders
D. Cumulative preference shareholders

Question 8 :

• JAMB 1994

Compulsory dissolution of a business can arise from

A. an agreement by the owners
B. a declaration by a court of law
C. the termination of its life
D. an unfavourable economic climtate

Question 9 :

• JAMB 1994

What are fixtures and fittings in a balance sheet?

A. liquid capital
B. current assets
C. Fixed assets
D. Working capital

Question 10 :

• JAMB 1994

Governments impose import duties for the following reasons EXCEPT

A. to raise revenue for other services
B. to act as a retaliatory measure against other governments
C. to discourage the redistribution of income at home
D. to protect .home industries from external competition