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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 41:
The Customs and Excise Department is responsible for the the collection of?
  • A Royalties
  • B Tariffs
  • C Taxes
  • D Charges
View Answer & Explanation
Question 42:
A shop which consist of many stores trading under a single roof and which stocks varieties of goods with each unit having its own head is a?
  • A Mulitple shop
  • B Supermarket
  • C Superstore
  • D Departmental store
View Answer & Explanation
Question 43:
An objective of the farmers' association is to?
  • A Ensure that the prices of goods are fair and reasonable
  • B Correct the imbalance between consumers and producers
  • C Improve the methods of selling and advertising
  • D Provide a stable market outlet for farm inputs
View Answer & Explanation
Question 44:
The documents used in the purchase and sale of goods which contain other terms of trade are?
  • A Debit note and credit note
  • B Delivery note and advice nopt
  • C Invoice and order
  • D Quotation and invoice
View Answer & Explanation
Question 45:
In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as?
  • A Counter trade
  • B Balance of trade
  • C Balance of payments
  • D Terms of trade
View Answer & Explanation