JAMB Commerce Past Questions 2013
10 questions from the JAMB 2013 Commerce paper, with answers and explanations. Tap "Show answer" under each one when you are ready.
JAMB 2013Question 1 · Business Organisation and Management
In order to increase the capital owned, a sole trader may
- A.seek for bank loan
- B.issue debentures
- C.acquire extra shop fittings on credit
- D.draw less of his profit for personal use
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Answer: D. draw less of his profit for personal use
A sole trader can increase capital by drawing less profit for personal use.
JAMB 2013Question 2 · Business Organisation and Management
The rate of turnover of a firm in a given year is 5 times while the average stock is #12,500. what is the turnover of the firm?
- A.#24,000
- B.#46,500
- C.#62,500
- D.#65,000
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Answer: C. #62,500
Turnover = rate of turnover x average stock = 5 x #12,500 = #62,500.
JAMB 2013Question 3 · Business Organisation and Management
In a staff-authority relationship, the opinion of a specialist in one department to another is
- A.a directive
- B.an advice
- C.a command
- D.a delegation
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Answer: B. an advice
A specialist's opinion to another department in a staff-authority relationship is advice, not a command.
JAMB 2013Question 4 · Communication and Transportation
The two main forms of communication are
- A.oral and written
- B.verbal and non-verbal
- C.e-mail and fax
- D.traditional and modern media
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Answer: A. oral and written
The two main forms of communication are oral and written.
JAMB 2013Question 5 · International, Wholesale, and Retail Trade
The final link in the chain of distribution is
- A.middlemen
- B.whole saling
- C.consumer
- D.retailing
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Answer: C. consumer
The consumer is the final link in the chain of distribution.
JAMB 2013Question 6 · International, Wholesale, and Retail Trade
The document which must be endorsed by the ambassador of a country of destination before shipment of goods is a
- A.consular invoice
- B.certificate of origin
- C.bill of lading
- D.close indent
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Answer: A. consular invoice
A consular invoice must be endorsed by the destination country's ambassador before shipment.
JAMB 2013Question 7 · Law of Contract and Agency
The right to retain possession of goods until the contract price is paid is referred to as
- A.a promise
- B.ultra vires
- C.a breach
- D.a lien
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Answer: D. a lien
A lien is the right to retain possession of goods until the price is paid.
JAMB 2013Question 8 · Marketing and Advertising
Which of the following is used as a pricing policy?
- A.Packaging
- B.Market selection
- C.Labelling
- D.Market skimming
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Answer: D. Market skimming
Market skimming is used as a pricing policy.
JAMB 2013Question 9 · Money, Banking, and Stock Exchange
Money can be simply be referred to as a
- A.measure of value
- B.standard of value
- C.means of settlement
- D.durable asset for doing business
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Answer: A. measure of value
Money can simply be described as a measure of value.
JAMB 2013Question 10 · Office Practice and ICT
To meet security requirements before gaining access to data, a computer operator supplies
- A.an e-mail address
- B.a yahoo address
- C.a password
- D.a modem
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Answer: C. a password
A password is supplied to meet security requirements before accessing data.
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