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JAMB Commerce Past Questions 2018

10 questions from the JAMB 2018 Commerce paper, with answers and explanations. Tap "Show answer" under each one when you are ready.

JAMB 2018Question 1 · Business Organisation and Management
One of the major problems of a sole proprietor is sourcing for
  1. A.Funds
  2. B.Labour
  3. C.Raw materials
  4. D.Machineries
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Answer: A. Funds

Sourcing for funds is a major problem of a sole proprietor.

JAMB 2018Question 2 · Business Organisation and Management
In a public limited liability company, planning is carried out by
  1. A.Employees
  2. B.The chairman of the board
  3. C.Shareholders
  4. D.Manufacturer’s warehouse
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Answer: B. The chairman of the board

In a public limited company, planning is carried out by the chairman of the board.

JAMB 2018Question 3 · Business Organisation and Management
The main objective of a trade association can best be described as promoting and protecting ?
  1. A.the product
  2. B.common interest
  3. C.the market
  4. D.customer's interest
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Answer: B. common interest

A trade association's main objective is promoting and protecting common interest.

JAMB 2018Question 4 · Business Organisation and Management
A group of companies is a collection of?
  1. A.subsidiaries and their holding company
  2. B.firms
  3. C.associates and their holding company
  4. D.industries
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Answer: A. subsidiaries and their holding company

A group of companies is a collection of subsidiaries and their holding company.

JAMB 2018Question 5 · Consumer Protection, Warehousing, and Taxation
Which of the following functions is not performed by warehousing?
  1. A.Stabilization of price
  2. B.production ahead of demand
  3. C.creating scarcity of goods
  4. D.storage of goods
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Answer: C. creating scarcity of goods

Warehousing does not create scarcity of goods; that is not one of its functions.

JAMB 2018Question 6 · International, Wholesale, and Retail Trade
The duties paid on goods produced locally is
  1. A.Ad-valorem duty
  2. B.excise duty
  3. C.export duty
  4. D.quota
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Answer: B. excise duty

Excise duty is paid on goods produced locally.

JAMB 2018Question 7 · Law of Contract and Agency
What do we call agreement between two people enforced by law?
  1. A.Consideration
  2. B.offer
  3. C.contract
  4. D.agreement
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Answer: C. contract

An agreement between two people enforced by law is a contract.

JAMB 2018Question 8 · Marketing and Advertising
one of the criteria for differenciating consumer markets from industrial ones is the?
  1. A.type of demand
  2. B.type of supply
  3. C.nature of service rendered
  4. D.price of the goods
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Answer: A. type of demand

The type of demand differentiates consumer markets from industrial ones.

JAMB 2018Question 9 · Money, Banking, and Stock Exchange
A debenture holder is entitled to
  1. A.Dividend
  2. B.Interest
  3. C.commission
  4. D.Profit
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Answer: B. Interest

A debenture holder is entitled to interest.

JAMB 2018Question 10 · Office Practice and ICT
The progragramme that makes up the operating system in a computer system is called?
  1. A.system software
  2. B.micro program
  3. C.syntax
  4. D.system flow-chart
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Answer: A. system software

System software makes up a computer's operating system.

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