10 questions from the JAMB 2012 Commerce paper, with answers and explanations. Tap "Show answer" under each one when you are ready.
JAMB 2012Question 1 · Business Organisation and Management
A business organization that exploits the capabilities of a member to remedy the weaknesses of another is
A.joint venture
B.partnership
C.nominal partnership
D.cooperative
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Answer: B. partnership
A partnership combines members' strengths to offset individual weaknesses.
JAMB 2012Question 2 · Business Organisation and Management
A company has an authorized capital of 40 million shares at N1 each, out of which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares?
A.it has been issued but not paid-up
B.it has been applied for but not issued
C.it is not paid-up
D.it has not yet been issued
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Answer: D. it has not yet been issued
The remaining 8 million shares have not yet been issued.
JAMB 2012Question 3 · Business Organisation and Management
The promotion of team spirit in an organization is referred to as
A.unity of direction
B.espirit de corps
C.unity of purpose
D.discipline
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Answer: B. espirit de corps
Esprit de corps refers to promoting team spirit in an organization.
JAMB 2012Question 4 · Commerce Fundamentals and Occupations
One of the major benefits of commerce to government is to
A.improve the standard of living
B.generate revenue for growth and development
C.encourage cooperation among public organisations
D.encourage the development of socio-cultural values
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Answer: B. generate revenue for growth and development
Commerce benefits government mainly by generating revenue for growth and development.
JAMB 2012Question 5 · Consumer Protection, Warehousing, and Taxation
The body which ensures that consumers are protected against harmful products in Nigeria is
A.NAFDAC
B.NDLEA
C.SON
D.CPC
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Answer: D. CPC
The Consumer Protection Council protects consumers against harmful products in Nigeria.
JAMB 2012Question 6 · International, Wholesale, and Retail Trade
A document which serves as an order with details of goods required by an intending purchaser is
A.a freight note
B.an indent
C.a bill of landing
D.a way bill
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Answer: B. an indent
An indent is an order document detailing goods required by an intending purchaser.
JAMB 2012Question 7 · Marketing and Advertising
The main purpose of branding is to
A.create identity for a product
B.make a product look attractive
C.create product awareness
D.increase sales volume
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Answer: A. create identity for a product
The main purpose of branding is to create identity for a product.
JAMB 2012Question 8 · Money, Banking, and Stock Exchange
Which of the following is a characteristic of a bearer cheque
A.it is made with transverse lines
B.it is made payable to whoever presents it
C.it is made without transverse lines
D.it is only payable into the payees account
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Answer: B. it is made payable to whoever presents it
A bearer cheque is payable to whoever presents it.
JAMB 2012Question 9 · Money, Banking, and Stock Exchange
Modern means of payment is greatly facilitated by
A.e-commerce
B.paper money
C.e-banking
D.credit transfer
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Answer: C. e-banking
E-banking greatly facilitates modern means of payment.
JAMB 2012Question 10 · Production and Insurance
One of the inputs in production that can be motivated by remuneration is
A.capital
B.enterpreneur
C.labour
D.land
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Answer: C. labour
Labour is the production input that can be motivated by remuneration.
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