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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 11:

A business whose owners enjoys loan facilities on the basis of personal goodwill is a?

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A Commercial bank
B Thrift society
C Co-operative society
D Community bank

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Question 12:

Which of the following is not a veritable source of funds to a public limited company?

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A Government financial grant
B Advances and loan from banks
C Internally generated funds
D Funds from the sale of shares

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Question 13:

Use the document below to answer question Okon Etim Esin is the?

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A Debtor
B Creditor
C Exporter
D Importer

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Question 14:

The document represents a

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A Bill of exchange
B Cheque
C Money order
D A. Promissory note

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Question 15:

The term ‘5 Net 7’ on an invoice means that?

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A 5% discount will be allowed on the price charged if payment is made within seven days
B 5% discount will be allowed on the price charged if payment is made after seven days
C 5% surcharge will be made unless payment is made within seven days
D 5% dicount will be allowed on the charged if the goods are bought within seven days

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