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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 31:
The basic distinction between cash discount and trade discount is that while trade discount is
  • A For a period of 30 days, cash discount is for a period of 3 months
  • B Given by a wholesaler, cash discount is given by a bank
  • C A reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value
  • D A reduction in the value of sales, cash discount is a reduction in price of goods
View Answer & Explanation
Question 32:
The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as
  • A Excess charges
  • B Demurrage charges
  • C Permium charges
  • D Trade charges
View Answer & Explanation
Question 33:
Bank giro is a system where?
  • A Commercial banks can give loan to all customers
  • B A central bank opens account for commercial banks
  • C A customer uses cheque to pay serveral bills
  • D A customer closes his account by writting cheque
View Answer & Explanation
Question 34:
Commercial banks are referred to as departmental stores of banking because they
  • A Have many branches
  • B Have many customers
  • C Are found in the cities
  • D Offer many types of services
View Answer & Explanation
Question 35:
A markets where new shares are trade is known
  • A Primary market
  • B Stock exchange
  • C Secondary markets
  • D Money market
View Answer & Explanation