Which of these is not a merit of division of labour

Creates monotony in the work force

brings about an element of automation

Training in new jobs is facilitated

Creates monotony in the work force

One of these is not a factor affecting prices of securities?

Financial statements of the company

The Forces of demand and supply

Political situation of a country

Financial statements of the company

The basic characteristics of co-operative society include all except one

It follows the principle of one man

Extra capital is raised through loan

A conter offer is an offer that is

different from the original offer

different in terms of acceptance

extended to several people at once

The basic characteristics of co-operative society include all except one

It follows the principle of one man

Extra capital is raised through loan

JAMB UTME - Commerce - 2019 | Green Bridge CBT

Question 1 Report

The scope of commerce is limited to________

home and foreign trade

wholesaler and retail trade

trade and aids to trade

wholesale and entreport trade

Answer Details

Commerce scop embraces trade and aids to trade.

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Trade

Commerce

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Question 2 Report

The difference between Articles of association and memorandum of Association is that the latter deals

with the Internal working relationship of the company and its members

with the powers and relationships of the company with outsiders

The method of issue, transfer and future of the company's shares

The rights and responsibilities of shareholders

Answer Details

The difference between Articles of Association and Memorandum of Association is that the Memorandum of Association deals with the powers and relationships of the company with outsiders, while the Articles of Association deal with the internal working relationship of the company and its members. To put it simply, the Memorandum of Association outlines the fundamental characteristics of the company, such as its name, objectives, and the extent of its liability. It establishes the relationship between the company and external parties, such as customers, suppliers, and creditors. On the other hand, the Articles of Association are concerned with the internal management and governance of the company. They provide details on the procedures for holding meetings, appointing directors, and issuing and transferring shares. They also specify the rights and responsibilities of the company's shareholders. In essence, the Memorandum of Association sets out the company's external relationships, while the Articles of Association lay down the rules for its internal affairs.

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Legal Aspects Of Business

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Question 3 Report

The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be________

The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be

Aviation Insurance

Marine Insurance

Life Assurance

Answer Details

Marine Insurance is the type of insurance policy that is compulsory in international trade so that all goods passing through the sea must be covered. This type of insurance is necessary to protect goods in transit against loss or damage that may occur during shipping. For example, if goods are damaged or lost during a voyage, marine insurance can provide compensation to the owner of the goods. This helps ensure that international trade can take place smoothly and that businesses are not negatively impacted by unexpected losses. Marine insurance is therefore an essential part of international trade and is required to ensure that goods are protected during transit.

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Purchase And Sale Of Goods In Home And Foreign Trade

Introduction To Marketing

Commerce

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Question 4 Report

The risks that can be forecast and measured is termed___________

Gambling

Insurable risks

Non-Insurable risks

Indenmity Insurance

Answer Details

The term you are looking for is "Insurable risks". Insurable risks are those risks that can be quantified and predicted with a certain level of accuracy. They are typically events that are outside of the control of the individual or organization and can result in financial loss or damage. Examples of insurable risks include natural disasters, accidents, theft, and fire. Insurable risks can be mitigated through insurance, which involves paying a premium to transfer the risk to an insurance company. The insurance company then assumes the financial responsibility of the risk and compensates the policyholder in the event of a covered loss. It's important to note that not all risks are insurable. Non-insurable risks are those that are difficult to predict or quantify, such as market fluctuations, changes in regulations, and acts of war. These risks are typically not covered by insurance policies.

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Legal Aspect Of Business

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Question 5 Report

A terms of payment in which the buyer pays cash immediately for goods bought before he takes them away is called____

Prompt cash

Cash on delivery

Spot cash

Cash with order

Answer Details

A spot price is the price that is the current price and at which the instant delivery takes place. Spot payment or price is the same as the market price.

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Trade

Purchase And Sale Of Goods

Commerce

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Question 6 Report

All harbours, docks and waterways of Nigeria are looked after by a public corporation called the

Nigerian Police Authority

Nigerian Ports Authority

National Ports Authority

National Police Authority

Answer Details

All harbours, docks, and waterways of Nigeria are looked after by the "Nigerian Ports Authority." The Nigerian Ports Authority (NPA) is a government-owned organization responsible for managing and regulating the ports and waterways in Nigeria. This includes overseeing the operations of all the harbours, docks, and waterways in the country, ensuring that they are safe, efficient, and well-maintained. The NPA works to improve the efficiency of the ports and waterways, promote economic development in the region, and provide employment opportunities for the local population. By ensuring the smooth and efficient operation of the ports and waterways, the NPA plays a critical role in supporting the economy of Nigeria.

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Production

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Question 7 Report

An abridged message sent at express speed to reach its destination faster than the airmail letters is known as

Telephone

Telex

NITEL

Answer Details

A telegram is a message sent at express speed to reach its destination faster than airmail letters. It was a means of communication before the widespread use of telephones and email. The message was sent via a telegraph machine to a telegraph office and then delivered to its intended recipient. The telegram was often abbreviated and sent in code to save time and money. It was a popular way to send urgent messages, such as news of a birth, death, or important business information.

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Information And Communication Technology (ict)

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Question 8 Report

A responsibility to control environmental pollution is the responsibility of____

The business

The government

The consumer

The employee

Answer Details

A business has a responsibility to control environmental pollution e.g water, land, sound and air pollution arising from their operations.

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Business Environment And Social Responsibility

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Question 9 Report

A document that embody the conditions and exceptions attached to the contract is

proposal form

cover note

the policy

insurance certificate

Answer Details

A document that embodies the conditions and exceptions attached to the contract is the "policy." A policy is a legal contract between the insurer and the insured that outlines the terms and conditions of the insurance coverage. It specifies what is covered, how much is covered, and under what circumstances the coverage will be provided. The policy also lists any exceptions or exclusions that are not covered under the policy. In simple terms, the policy is the document that outlines the agreement between the two parties and lays out all the details of the insurance coverage.

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Legal Aspects Of Business

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Question 10 Report

Someone traveling abroad for at least "twenty - four hours" and a maximum stay of six months is known as

Transportation

Tourism

International trade

Domestic tourism

Answer Details

Someone traveling abroad for at least "twenty-four hours" and a maximum stay of six months is known as a "tourist." Tourism is the industry and activity of traveling for pleasure, which includes visiting places of interest, experiencing different cultures, and engaging in various leisure activities. A tourist is a person who travels to a different location outside of their usual environment for leisure, business, or other purposes. In this case, the requirement of a minimum stay of "twenty-four hours" and a maximum stay of six months is a common definition used by many countries to distinguish between a tourist and someone who is merely passing through. This definition is used by customs and immigration authorities to determine whether a traveler requires a tourist visa, which permits them to stay in the country for a specific period, typically up to six months. Transportation refers to the movement of goods and people from one place to another. It may or may not involve travel for leisure or other purposes. International trade refers to the exchange of goods and services between countries, which can involve the movement of people and goods, but does not necessarily involve travel for leisure. Domestic tourism refers to the activity of traveling within one's own country for leisure or other purposes, which is distinct from international tourism, where a person travels to a different country.

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Transport, Tourism, Communication And Warehousing

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Question 11 Report

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate Current liabilities

100

6000

600

3000

Answer Details

From accounting equation;
Assets = Capital + liabilities
Therefore, liabilities = Assets - Capital
Liabilities = (4900 + 1600) - (500 + 1000) = 6500 - 6000
⇒ ₦600

View Answer

Question 12 Report

A market is said to be bullish if_________

There is a fail in prices of Securities

There is a rise in prices of Securities

There is a rise above the offer prices

The speculator fails to deliver stock to the buyer

Answer Details

A market is said to be bullish if there is a rise in the prices of securities. This means that the investors are optimistic about the market conditions and are buying stocks and other securities, which leads to an increase in their prices. A bullish market is generally seen as a sign of a strong and healthy economy, as investors are confident about the future prospects of the companies whose stocks they are buying. When the market is bullish, people are more likely to invest and take risks, as they believe that the prices of securities will continue to rise, resulting in profits for them.

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Stock Exchange

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Question 13 Report

A commission charged on postal order is__________

postal zero

postal orders

poundage

brokage

Answer Details

A commission charged on postal order is called "poundage." Poundage is a small fee that is charged by the postal service for processing and handling a postal order. This fee is a percentage of the total amount of the postal order and is designed to cover the costs of processing, handling, and delivering the order. Poundage is usually a small amount, but it can add up over time, especially if you use postal orders frequently. It is important to take poundage into consideration when calculating the total cost of a postal order, to make sure you have enough funds to cover both the cost of the order and the poundage fee.

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Commerce

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Question 14 Report

Which function of money is described in the following statement?

It serves as a medium through which business transactions are carried out

Standard for deferred payments s

Medium of exchange

Store of value

Unit of account

Answer Details

Since money can be stored, it can accumulated to pay debts and can serve as a medium by which business transactions on credit can be settled.

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Money

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Question 15 Report

The difference between a chamber of commerce and a trade association is that the former

is not restricted to a particular industry

is a branch of trade that sells product

consists of members engaged in the same trade

are association of individuals or firms

Answer Details

A chamber of commerce and a trade association are both types of business organizations, but they differ in their focus and membership. A chamber of commerce is a business organization that represents a specific geographical region and is open to businesses from all industries. Its primary purpose is to promote economic development and provide resources to its members, such as networking events, business education, and advocacy on behalf of the business community. On the other hand, a trade association is an organization that represents businesses in a particular industry or sector. Its members are typically companies or individuals who are engaged in the same trade, such as the National Restaurant Association, which represents the restaurant industry, or the National Association of Realtors, which represents real estate professionals. In summary, the key difference between a chamber of commerce and a trade association is that the former is not restricted to a particular industry and represents a geographic region, while the latter represents businesses within a specific industry or trade.

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Trade Associations

Commerce

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Question 16 Report

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate Fixed assets

6500

2000

4900

600

Answer Details

Fixed Assets	N
Furniture	2000
Equipment	2900
	4900

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Production

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Question 17 Report

The process of winding up or bringing a company to an end is________

Dissolution

Liquidation

Integrating

Merger

Answer Details

The process of winding up or bringing a company to an end is Liquidation. Liquidation refers to the process of selling off a company's assets, paying off its debts and distributing any remaining funds to shareholders. This is typically done when a company is no longer able to continue its operations, or when the owners or shareholders have decided to close the business. During liquidation, the company's assets are sold, and the proceeds are used to pay off creditors, including suppliers, lenders, and employees. Any remaining funds are then distributed to the shareholders, if there are any.

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Legal Aspects Of Business

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Question 18 Report

Booklets containing a range of products, their uses and prices are called

Posters

Handbill

Catalogues

Price Journal

Answer Details

The booklets containing a range of products, their uses, and prices are called catalogues. Catalogues are comprehensive printed or digital documents that contain a list of products or services, their descriptions, features, and prices. They are usually organized in a clear and easy-to-understand format, making it easy for potential customers to compare different products and make informed buying decisions. Catalogues can be used by various businesses, including retail stores, online shops, and manufacturers, to showcase their products to potential customers. Unlike posters, which typically only feature a single product or service, catalogues provide a broader overview of the range of products or services available from a particular business.

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Commerce

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Question 19 Report

In Nigeria, it is mandatory for all business enterprises to be registered with the________

Government

Corporate Affairs Commission

Agent

Enterprise

Answer Details

In Nigeria, all business enterprises are required to be registered with the Corporate Affairs Commission (CAC). The CAC is a government agency that is responsible for registering and regulating all business activities and organizations in Nigeria. By registering with the CAC, a business can legally operate in Nigeria and receive protection under the law. The CAC also helps to ensure that businesses are operating in a fair and transparent manner, and provides a database of all registered businesses for the public to access.

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Legal Aspect Of Business

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Question 20 Report

Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

Private limited liability

Public limited liability

Partnership

Co-operative society

Answer Details

The type of limited liability company that has a limit of fifty members and does not issue their shares to the public is a private limited liability company. A private limited liability company is a type of business structure where the company's shares are owned by a small group of individuals (usually family, friends or business partners). This type of company is restricted to a maximum of fifty shareholders and cannot sell its shares to the public through a stock exchange. The liability of each shareholder is limited to the amount of money they have invested in the company, so they are not personally responsible for the company's debts. In addition, the company's legal identity is separate from that of its owners, which means the company can own property, enter into contracts and take legal action in its own name. Overall, a private limited liability company is a popular option for small businesses and startups as it provides limited liability protection to its owners while also allowing for flexible management and ownership structures.

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Occupation

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Question 21 Report

Use the following information to answer this question.

Oladosu Bookshop

54, Ahmadu Bello Way

Kaduna

P.O.BOOX 336

6 January 1989

Olu Stationery ltd

17, Kakawa Street

Lagos

Dear Sir,

We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.

Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.

Yours Faithfully

Manager.

From the question above, the document the firm or organization will send to the buyer is

Delivery notes

Advice notes

An order form

Quotations

Answer Details

The document the firm or organization will send to the buyer is a Quotation. A quotation is a document that provides details about the cost of goods or services requested by a customer. In this case, the Oladosu Bookshop is requesting a quote from Olu Stationery Ltd for 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books. The quotation will provide the prices for the requested items and also include the terms of trade, which specify the conditions for payment, delivery, and other important information. The purpose of the quotation is to give the buyer an estimate of the cost of the items requested so that they can make an informed decision about whether or not to proceed with the purchase.

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Purchase And Sale Of Goods In Home And Foreign Trade

Commerce

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Question 22 Report

All except one is not a corporation and boards at the federal level

FRCN

NNPC

CBN

MAN

Answer Details

All the options listed are corporations, however only one of them is not a corporation at the federal level. FRCN, NNPC, and CBN are all federal corporations in Nigeria. FRCN stands for Federal Radio Corporation of Nigeria, NNPC stands for Nigerian National Petroleum Corporation, and CBN stands for Central Bank of Nigeria. MAN, on the other hand, stands for the Manufacturers Association of Nigeria, which is a private sector body representing the interests of manufacturers in Nigeria. It is not a corporation at the federal level.

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Commerce

Money

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Question 23 Report

A fall in the value of a country's currency vis-a-vis other currencies is known as__________

Depreciation

Reduction

Devaluation

Exchange rate

Answer Details

Devaluation is the lowering of the exchange value of a country's currency against other currencies. This makes import to be expensive and import to be more attractive.

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Trade

Commerce

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Question 24 Report

Tourism involving residents of the given country travelling only within this country is called__________

Domestic Tourism

Inbound Tourism

Outbound Tourism

Traveller's Tourism

Answer Details

Tourism involving residents of a given country traveling only within that country is called "Domestic Tourism." Domestic Tourism refers to the travel of people within their own country for leisure, business, or other purposes. This type of tourism involves residents of a country traveling to different parts of their own country for vacation, sightseeing, or to visit friends and family. Domestic Tourism is an important part of the tourism industry, as it generates revenue for local businesses and supports local economies. It is important to note that Domestic Tourism is different from Inbound Tourism, which refers to the travel of foreign visitors to a country, and Outbound Tourism, which refers to the travel of residents of a country to other countries.

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Transport, Tourism, Communication And Warehousing

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Question 25 Report

A memory that can be read and write and is volatile is known as

RAM

ROM

EPROM

EPPROM

Answer Details

A memory that is volatile, meaning that it loses its contents when the power is turned off, and can be read and written to is called Random Access Memory (RAM). RAM is a type of computer memory that is used to store data and programs that are actively being used. The contents of RAM can be easily changed, and it is a fast type of memory that allows the computer to access data quickly. However, because it is volatile, any data stored in RAM is lost when the power is turned off. In contrast, Read-Only Memory (ROM) is a type of memory that is non-volatile, meaning that its contents are permanent and cannot be changed. EPROM (Erasable Programmable Read-Only Memory) and EEPROM (Electrically Erasable Programmable Read-Only Memory) are types of non-volatile memory that can be reprogrammed, but they are not as fast as RAM and are not used for actively storing data and programs.

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Production

Occupation

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Question 26 Report

A bear market is said to be in existence in a period of

Boom

Stump

Bullish

Stagflation

Answer Details

Slump is associated with the bears. A bear market is said to be in the period of stump with an uncertain economic trend.

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Stock Exchange

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Question 27 Report

A cheque that is payable to whoever presents it is known as______

order cheque

open cheque

crossed cheque

bearer cheque

Answer Details

A cheque that is payable to whoever presents it is known as a "bearer cheque". A bearer cheque is a type of cheque where the person who presents the cheque to the bank for payment is considered the rightful owner, regardless of who actually wrote the cheque. In other words, if you have a bearer cheque, you can cash it at the bank without having to prove that you are the person to whom the cheque was written. This type of cheque is becoming less common due to security concerns, as it makes it easier for someone to fraudulently cash someone else's cheque. In contrast, other types of cheques, such as "order cheques" and "crossed cheques", have added security features to prevent fraud and ensure that the cheque is paid to the correct recipient.

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Purchase And Sale Of Goods

Commerce

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Question 28 Report

An International organisation that influence and fix the price of oil in the International markets is

IMF

ECOWAS

OPEC

OAU

Answer Details

The international organization that influences and sets the price of oil in the international markets is the Organization of the Petroleum Exporting Countries (OPEC). OPEC is an intergovernmental organization made up of 14 oil-producing countries. These countries work together to control the supply of oil in the international markets, with the aim of stabilizing prices and generating income for their member countries. By controlling the supply of oil, OPEC can influence the price of oil in the international markets, making it a powerful player in the global energy market. IMF, ECOWAS, and OAU are not organizations that are involved in setting the price of oil. IMF (International Monetary Fund) is a global organization that provides financial assistance and support to countries with economic difficulties. ECOWAS (Economic Community of West African States) is a regional organization made up of 15 West African countries, aimed at promoting economic integration and development in the region. OAU (Organization of African Unity) is a defunct organization that was formed to promote unity and cooperation among African countries.

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Trade

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Question 29 Report

Commerce brings about all except one

International co-operation

Improvement in the standard of living

Monotony of work

Infrastructural development

Answer Details

Commerce brings about international cooperation, improvement in the standard of living, and infrastructural development, but it does not bring about monotony of work. Commerce involves buying and selling goods and services between countries and between individuals, and this can lead to international cooperation as countries work together to exchange goods and services and build relationships. This can also lead to an improvement in the standard of living, as people have access to a wider range of goods and services and can trade with others to get what they need. Infrastructural development, such as the construction of ports, airports, and roads, can also be a result of commerce, as these facilities are needed to support the transportation of goods and services. However, commerce does not bring about monotony of work, as work in commerce can be diverse and dynamic, involving a range of activities such as marketing, sales, and logistics. While some tasks within commerce may become repetitive, the nature of commerce itself is not monotonous.

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Commerce

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Question 30 Report

Nigerian Police Authority

Nigerian Ports Authority

National Ports Authority

National Police Authority

Answer Details

The NPA was established in 1955 to provides facilities for water traffic movement and controls pollution in rivers and ports.

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Legal Aspects Of Business

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Question 31 Report

Examples of Commercial occupation are all except___________

Bankers

Traders

Insurers

Goldsmith

Answer Details

All the options listed - bankers, traders, insurers, and goldsmiths - are examples of commercial occupations, so the correct answer is "none of the above" or "all of the options are examples of commercial occupations". Commercial occupations are those that are primarily involved in buying, selling, or trading goods or services for a profit. Bankers are involved in the business of banking, which includes accepting deposits, making loans, and other financial services. Traders are involved in buying and selling financial instruments such as stocks, bonds, and commodities. Insurers provide insurance policies to individuals and businesses in exchange for premiums. Goldsmiths are involved in the business of making and selling jewelry and other precious metal items. All of these professions involve commercial activities aimed at making a profit, so they are all examples of commercial occupations.

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Commerce

Occupation

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Question 32 Report

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

	₦		₦
Opening stock Purchase	1000 7000	Sales	8000
Closing Stock	3000

Trading Expenses

Electricity

Salaries

Rent

Depreciations

₦

135

875

180

210

From the figures given, calculate

Gross profit

300

3000

6000

11000

Answer Details

Gross profit = Sales - Cost of goods sold
Cost of goods sold = Opening + Purchases - Closing stock = 1000 + 7000 - 3000
⇒ 6000
Therefore, Gp = 8000 - 6000 = 3000

View Answer

Question 33 Report

The most important resources of business is_______

Human resources

Money resources

Material resources

Opportunities

Answer Details

The most important resource of a business is its human resources, which refers to the people who work for the company. This includes everyone from the CEO to entry-level employees. Human resources are crucial because they are the ones who create, produce, and sell the products or services that the company offers. Money, material resources, and opportunities are also important, but without human resources, a business cannot function. Money is important to invest in the company and keep it running, but without people to manage the finances and create revenue, the money is useless. Material resources such as equipment, technology, and supplies are necessary to produce goods or provide services, but again, it is the human resources who operate the machinery and use the supplies. Opportunities such as partnerships or expanding into new markets can be lucrative, but it is the human resources who develop and execute the strategies to take advantage of these opportunities. In summary, while all resources are important, human resources are the most critical because they are the ones who make the business function and succeed.

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Commerce

Occupation

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Question 34 Report

Advantages of pipeline transport include all except_______

Low maintenance cost

It is safe

Continuous Flow of goods

Prone to leakages

Answer Details

The statement is asking for the option that is not an advantage of pipeline transport. The answer is "Prone to leakages". Pipeline transport is a means of transporting liquids or gases over long distances using pipelines. It has several advantages over other forms of transportation such as: 1. Low maintenance cost: Pipeline transport requires minimal maintenance, as once the pipeline is laid, it can operate for several years with minimal maintenance required. 2. It is safe: Pipeline transport is considered one of the safest modes of transportation, as it reduces the risk of accidents associated with other modes of transportation such as road and rail. 3. Continuous flow of goods: Pipeline transport allows for a continuous flow of goods, without any interruptions or delays, as there is no need for loading and unloading at different points. However, pipeline transport is prone to leakages, which can lead to environmental damage, loss of goods, and even accidents. To prevent this, pipelines need to be regularly maintained and inspected to ensure that they are in good condition and any leaks are quickly detected and repaired. In summary, pipeline transport is a reliable and efficient means of transporting goods over long distances, but it requires proper maintenance and monitoring to ensure that it operates safely and without any leakages.

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Transport, Tourism, Communication And Warehousing

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Question 35 Report

Examples of consumer goods include all except________

Nurse

Cars

Spoon

Shoes

Answer Details

Consumer goods are goods and services that can satisfy the consumer's immediate needs. These goods do not require further process of production for their use by the consumers.

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Purchase And Sale Of Goods In Home And Foreign Trade

Purchase And Sale Of Goods

Commerce

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Question 36 Report

The Sole aim of government owned business is to

make profit

provide services to the public

spread environmental pollution

manage action

Answer Details

The sole aim of a government-owned business depends on the specific goals and objectives of the government that owns it. In general, government-owned businesses are established to achieve specific policy goals, such as providing essential services to the public, promoting economic development, and generating revenue for the government. Unlike privately-owned businesses whose primary aim is to maximize profits for their owners and shareholders, government-owned businesses may prioritize other objectives such as providing affordable services to the public, promoting social welfare, and ensuring environmental sustainability. For example, a government-owned utility company may aim to provide affordable and reliable electricity to households and businesses, while a government-owned transportation company may aim to provide safe and efficient transport services to commuters. However, it's important to note that government-owned businesses can also face challenges such as bureaucratic inefficiencies and political interference that can affect their ability to achieve their intended objectives.

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Question 37 Report

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

	₦		₦
Opening stock Purchase	1000 7000	Sales	8000
Closing Stock	3000

Trading Expenses

Electricity

Salaries

Rent

Depreciations

₦

135

875

180

210

From the figures given, calculate

Percentage of net profit to turnover

30%

5%

10%

20%

View Answer

Question 38 Report

The following development of money have therefore been the use of, except______

Coins

Inconvertible paper money

Commodities

Abacus

Answer Details

The option that has not been a development of money is "Abacus". An abacus is a counting tool used for arithmetic calculations, and it was used before the invention of money. It was used to keep track of quantities of goods, but it was not used as a form of currency or exchange. Coins, inconvertible paper money, and commodities, on the other hand, have been used as forms of money. Coins are pieces of metal with a specific value stamped on them, which were used as a medium of exchange. Inconvertible paper money is paper currency that is not backed by a commodity such as gold or silver, but is used as a medium of exchange based on trust in the issuing government. Commodities, such as gold, silver, or cattle, have also been used as money because they have value and can be traded for goods and services.

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Money

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Question 39 Report

All but one does not provide an Indirect Service?

Custom Officers

Family Doctors

Civil Servants

Law Makers

Answer Details

Among the four options, only "Custom Officers" do not provide an indirect service. An indirect service is a service that is provided to the public through intermediaries or intermediaries, such as government agencies, non-profit organizations, or private companies. Family doctors provide an indirect service because they are intermediaries between patients and the healthcare system. They diagnose and treat patients, prescribe medications, and refer patients to specialists or hospitals if necessary. Civil servants also provide an indirect service by managing and implementing government policies and programs that directly impact the public, such as education, healthcare, and public safety. Lawmakers provide an indirect service by creating laws and policies that shape the way society functions. Their actions affect the public directly or indirectly. On the other hand, custom officers do not provide an indirect service. They work directly for the government and are responsible for enforcing laws and regulations related to imports and exports. Their job is to inspect goods, collect duties and taxes, and prevent illegal activities, such as smuggling, at the borders. Custom officers do not provide a service that intermediaries distribute to the public.

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Occupation

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Question 40 Report

The headquarters of Niger Basin Commission is located at________

Abuja

Niamey

Lome

Nojamena

Answer Details

The headquarters of the Niger Basin Commission is located in Niamey, which is the capital city of Niger. The Niger Basin Commission is an intergovernmental organization that was established in 1964 to promote cooperation and sustainable development in the Niger Basin region, which encompasses nine West African countries, including Benin, Burkina Faso, Cameroon, Chad, Côte d'Ivoire, Guinea, Mali, Niger, and Nigeria. The Niger Basin Commission's mission is to ensure the integrated development of the Niger Basin in a sustainable and equitable manner, while promoting regional cooperation and reducing poverty. The organization focuses on a variety of activities, including water resource management, environmental protection, and sustainable agriculture and rural development. The headquarters of the Niger Basin Commission in Niamey serves as a central hub for the organization's operations, including policy development, planning, and coordination of regional programs and projects.

Read lesson note on Introduction To Business Management (WAEC)

Introduction To Business Management

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