JAMB UTME - Commerce - 2000 | Green Bridge CBT

Pregunta 1 Informe

Which of these is both merit and demerit in partnership?

The number of partners Respuesta correcta

It unlimited nature

The bearing of risk

The withdrawal of a major partner

Detalles de la respuesta

Lee la nota de la lección en Occupation (JAMB)

Occupation

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Pregunta 2 Informe

A form of money that has gone out of use is?

paper money

bank money

commodity money Respuesta correcta

foreign money

Detalles de la respuesta

A form of money that has gone out of use is "commodity money". This type of money was based on the value of a commodity, such as gold, silver, or salt, and was widely used in the past. The actual commodity was used as currency and had value in and of itself. For example, gold coins were used as a form of payment and the value of the coins was determined by the amount of gold they contained. However, as economies evolved and grew, commodity money became impractical due to issues such as security and portability. As a result, paper money and bank money, which are more convenient and easier to use, gradually replaced commodity money as the primary forms of currency.

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Money

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Pregunta 3 Informe

One of the function of the Niger Basin Commission is to

Ensure equal treatment of African nations

Foster closer co-operation among West African nations

Map out regulation that will guide all navigation for all West African nations Respuesta correcta

guarantee freedom of navigation for all West African nations

Detalles de la respuesta

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Pregunta 4 Informe

The primary objectives of a trade association is to

undertake researchwork on behalf of members

establish easy link with government

exchange information and negotiate as a preasure group Respuesta correcta

operat as a group against other groups

Detalles de la respuesta

The primary objectives of a trade association are to exchange information, negotiate on behalf of members, and establish a link with the government. A trade association is a group of businesses or organizations that operate in the same industry or sector. The main purpose of a trade association is to represent the interests of its members by promoting their common goals and addressing common issues. Trade associations provide a platform for members to exchange information and collaborate on research, which helps them stay up-to-date on industry trends and best practices. Additionally, trade associations negotiate with government bodies on behalf of their members to promote favorable policies and regulations. While trade associations may operate as a pressure group, their primary focus is on promoting the interests of their members, rather than working against other groups.

Lee la nota de la lección en Trade Associations (WAEC)

Lee la nota de la lección en Trade Associations (JAMB)

Trade Associations

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Pregunta 5 Informe

An aspect of the law which allows an exclusive right for a limited number of years is a

trade mark

raffication

patent Respuesta correcta

Detalles de la respuesta

The aspect of law which allows an exclusive right for a limited number of years is called a patent. A patent is a legal right granted to an inventor that gives them the exclusive right to make, use, and sell their invention for a limited period of time. The purpose of a patent is to encourage innovation by providing inventors with the ability to profit from their creations and protect their intellectual property. Copyright, on the other hand, is a form of intellectual property protection that applies to creative works such as books, music, and films. Trademarks protect words, phrases, symbols, or designs that distinguish the goods or services of one company from those of another. Raffication is not a recognized term in law.

Lee la nota de la lección en Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

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Pregunta 6 Informe

The main factors militating against the rapid growth of trade in Nigeria are?

inadequate transportation network and huge capital outlay

lack of motivation and government attitude towards trade

lacks of good transportation network and insecurity of investment Respuesta correcta

huge capital outlay and government attitude to trade

Detalles de la respuesta

Lee la nota de la lección en Trade (WAEC)

Lee la nota de la lección en Production (JAMB)

Trade

Production

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Pregunta 7 Informe

A printer that burns the print image onto the photosensitive drum is called

dot matrix printer

daisy wheel printer

laser printer Respuesta correcta

thermal printer

Detalles de la respuesta

A printer that burns the print image onto the photosensitive drum is called a laser printer. The laser printer uses a laser beam to draw the text or image onto the drum, which has a coating of photosensitive material. The laser beam selectively removes the charge on the drum surface, creating an electrostatic image of the printout. Then, toner particles are attracted to the charged areas on the drum, which are then transferred onto paper and fused by heat to create the final printout. This process is called electrophotography, and it allows for high-quality, fast, and efficient printing. Laser printers are commonly used in offices, schools, and homes for printing documents, reports, and images.

Lee la nota de la lección en Production (WAEC)

Lee la nota de la lección en Occupation (WAEC)

Production

Occupation

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Pregunta 8 Informe

The role of public relations is principally to

sustain good relationship

create good image Respuesta correcta

carry out publicity

advertise a firm's products

Detalles de la respuesta

Lee la nota de la lección en Advertising (WAEC)

Lee la nota de la lección en Legal Aspects Of Business (JAMB)

Advertising

Legal Aspects Of Business

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Pregunta 9 Informe

The term Plc implies that the are available

to the public at the company

privately on the stock exchange

publicly on the stock exchange Respuesta correcta

publicly in commericial banks

Detalles de la respuesta

The term Plc (Public Limited Company) implies that the company's shares are available for the public to buy and sell on the stock exchange. This means that the ownership of the company is not restricted to a small group of people but can be shared among many investors. As a result, the company can raise capital easily by selling shares to the public, and the shareholders can buy and sell the shares as they please. This provides a source of liquidity for the shareholders and enables the company to access funds from the public.

Lee la nota de la lección en Stock Exchange (JAMB)

Lee la nota de la lección en Money (JAMB)

Stock Exchange

Money

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Pregunta 10 Informe

The instrument establishing the Economic Community of West African State in 1975 is

a decree

an act

a treaty Respuesta correcta

constitution

Detalles de la respuesta

The instrument that established the Economic Community of West African States (ECOWAS) in 1975 is a treaty. A treaty is an agreement or contract between two or more countries or organizations that outlines the terms and conditions for their relationship or cooperation. In the case of ECOWAS, the treaty established the regional organization to promote economic cooperation and integration among its member states in West Africa. The treaty outlined the goals, objectives, and institutional framework for the organization, and provided a legal basis for its operations and activities.

Lee la nota de la lección en Economic Groupings (WAEC)

Economic Groupings

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Pregunta 11 Informe

The current trend in retailing competition in Nigeria are?

advertising and sales promotion strategies Respuesta correcta

branding, enterprising and diffrentiation of goods and services

self-service, after-sales service and services and branding strategies

after-sales services and sales promotion strategies

Detalles de la respuesta

Lee la nota de la lección en Advertising (WAEC)

Lee la nota de la lección en Purchase And Sale Of Goods (JAMB)

Lee la nota de la lección en Elements Of Marketing (JAMB)

Advertising

Purchase And Sale Of Goods

Elements Of Marketing

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Pregunta 12 Informe

A console is a device used in

moving an indicator on the screen Respuesta correcta

communicating between operator and programmer

holding magnetic tape reel

forming characters by heating sensitive ribbon

Detalles de la respuesta

Lee la nota de la lección en Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

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Pregunta 13 Informe

In an organization, civic consideration arises from?

the profit derived from the enviroment

its operations witthin the environment Respuesta correcta

irs social negative impacts on the community

the fact that it is registered in that locality

Detalles de la respuesta

Civic consideration in an organization arises from its operations within the environment and its social impacts on the community. Civic consideration refers to the ethical responsibility of an organization towards the welfare of the community in which it operates. It involves taking into account the social and environmental impacts of the organization's operations and making decisions that benefit both the organization and the community. Therefore, while being registered in a locality is important for the legal status of the organization, it does not necessarily dictate its civic consideration. Additionally, profit derived from the environment is not enough to guarantee civic consideration as it does not necessarily take into account the social impacts of the organization's operations.

Lee la nota de la lección en Business Environment And Social Responsibility (JAMB)

Business Environment And Social Responsibility

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Pregunta 14 Informe

A bank form used to transfer money from personal to creditor's account is called?

debits transfer form Respuesta correcta

credit transfer form

customers transfer form

banks transfer form

Detalles de la respuesta

Lee la nota de la lección en Money (JAMB)

Money

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Pregunta 15 Informe

Amina Enterprises Balance Sheet as at 30/3/99
Liabilities	₦	Assets	₦
Share capital	400,000	Land	200,000
Reserve fund	200,000	Buildings	150,000
Creditors	110,000	Machinery	200,000
Bills payable	50,000	Implements	20,000
Undistributed profits	45,000	Office fittings	5,000
Wages due	5,000	Raw materials	100,000
		Finished goods	50,000
		Debtors	20,000
		Bills receivable	15,000
		Cash at bank	45,000
		Cash at hand	5,000

Determined the circulating capital?

N250,000

N245,000

N235,000 Respuesta correcta

N225,000

Detalles de la respuesta

Circulating capital refers to the current assets that a company uses in its day-to-day operations, such as raw materials, finished goods, debtors, and cash. To determine the circulating capital, we need to add up all the current assets of the company. From the given balance sheet, the current assets are: - Raw materials = N100,000 - Finished goods = N50,000 - Debtors = N20,000 - Bills receivable = N15,000 - Cash at bank = N45,000 - Cash at hand = N5,000 Total current assets = N235,000 Therefore, the circulating capital for Amina Enterprises is N235,000. This is option (C) in the given choices.

Lee la nota de la lección en Commerce (JAMB)

Commerce

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Pregunta 16 Informe

After registration, a certificate of trading is usually issued to a

partnership

public company Respuesta correcta

private company

sole proprietorship

Detalles de la respuesta

Lee la nota de la lección en Purchase And Sale Of Goods (JAMB)

Lee la nota de la lección en Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

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Pregunta 17 Informe

A bus driver operating between Lagos and Jos pledged the owner's credit in Benin in order to have the engine repaired and the bill sent to the owner.This is a case of

del credere agency

agency by necessity Respuesta correcta

agency by rafication

agency by estoppel

Detalles de la respuesta

This is a case of "agency by necessity". The bus driver, as an agent, was faced with an urgent and necessary situation that required him to take action on behalf of the owner. The engine needed to be repaired to continue the journey, but the owner was not present to authorize the repair or provide payment. Therefore, the driver had to pledge the owner's credit to have the engine repaired and avoid further delay. This action was taken in the best interest of the owner, and the owner is bound by the driver's actions since they were necessary to carry out the business.

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Pregunta 18 Informe

A chamber of commerce is an association made up of

enterpreneurs Respuesta correcta

manufacturers

merchants

importers

Detalles de la respuesta

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Pregunta 19 Informe

Ocean liners are subdivided into

passenger liner and cargo liners Respuesta correcta

coastel liners and cargo liners

cargo liners and tramp liners

passenger liners and tramp liners

Detalles de la respuesta

Ocean liners are subdivided into passenger liners and cargo liners. Passenger liners are ships designed to carry people across the ocean, typically for commercial purposes. These ships are equipped with various amenities to make the journey comfortable for passengers, such as restaurants, bars, and entertainment facilities. Cargo liners, on the other hand, are ships designed to transport cargo across the ocean. These ships have large cargo holds and are equipped with cranes and other equipment for loading and unloading cargo. While some ships may carry both passengers and cargo, the primary purpose of the ship determines its classification as a passenger liner or cargo liner. Therefore, ocean liners are mainly subdivided into passenger liners and cargo liners.

Lee la nota de la lección en Occupation (JAMB)

Occupation

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Pregunta 20 Informe

The organizational structure above represents

line and functional structure

line and staff structure

Respuesta correcta

functional structure

line structure

Detalles de la respuesta

The organizational structure above represents a line and staff structure. In this type of organizational structure, there are two types of employees: line and staff. Line employees are directly involved in the day-to-day operations of the organization, while staff employees provide support and advice to the line employees. In the given structure, the solid lines connecting the employees represent the chain of command, and the dotted lines represent the flow of advice and support from the staff employees to the line employees. Therefore, the organizational structure above represents a line and staff structure.

Lee la nota de la lección en Elements Of Business Management (JAMB)

Lee la nota de la lección en Introduction To Business Management (WAEC)

Elements Of Business Management

Introduction To Business Management

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Pregunta 21 Informe

The most important advantage of personal selling is that it

allows sellers to percieve buyers' needs Respuesta correcta

allows sellers to sell their goods quickly

takes place easily on the high ways

takes place without the permissionof government

Detalles de la respuesta

The most important advantage of personal selling is that it allows sellers to perceive buyers' needs. Personal selling involves face-to-face communication between the seller and the buyer, which enables the seller to understand the buyer's needs, preferences, and concerns. By having direct contact with the buyer, the seller can tailor their sales pitch to the buyer's specific needs, leading to a higher chance of making a sale. Personal selling is especially effective for complex or expensive products where the buyer may have many questions or concerns. This allows the seller to address those concerns and build trust with the buyer, which can lead to a long-term relationship and repeat business.

Lee la nota de la lección en Trade (WAEC)

Lee la nota de la lección en Commerce (JAMB)

Trade

Commerce

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Pregunta 22 Informe

Government policies relating to the establishment and operation of business are targeted at

increasing the profit of business owners

the general improvement of the economy Respuesta correcta

even spread of facilities and employment

diversification and expansion of business

Detalles de la respuesta

Government policies relating to the establishment and operation of business are targeted at promoting the general improvement of the economy. The policies are designed to create an environment that is conducive for businesses to thrive and contribute to the growth of the economy. The policies aim to achieve several objectives, including ensuring an even spread of facilities and employment across different regions and promoting the diversification and expansion of businesses. This is done by providing incentives such as tax breaks, grants, and other forms of financial support to encourage investment and business growth. Additionally, the policies are designed to promote fair competition among businesses, protect the rights of consumers, and ensure that businesses operate in an ethical and sustainable manner. By promoting a healthy business environment, the government can create jobs, increase tax revenue, and stimulate economic growth, leading to a better standard of living for the citizens. Overall, the government policies relating to the establishment and operation of business are targeted at achieving a strong and sustainable economy that benefits all stakeholders.

Lee la nota de la lección en Government Policies Relating To Business (WAEC)

Government Policies Relating To Business

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Pregunta 23 Informe

Product involves

making goods avaiable where and when needed

changing the form of goods, moving and making them avaiable as needed Respuesta correcta

the manufacturing of goods and provision of services

the assembling of all necessary parts to produce a finished product

Detalles de la respuesta

Lee la nota de la lección en Production (WAEC)

Lee la nota de la lección en Business Units (WAEC)

Lee la nota de la lección en Occupation (WAEC)

Production

Business Units

Occupation

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Pregunta 24 Informe

The measure of independence available to the individual business unit that come together is the main different between

veritcal and horizontal integration

mergers and acquisition Respuesta correcta

consortium and almalgamation

trust and cartel

Detalles de la respuesta

Lee la nota de la lección en Financing Business (JAMB)

Lee la nota de la lección en Trade Associations (JAMB)

Lee la nota de la lección en Business Units (WAEC)

Lee la nota de la lección en Occupation (WAEC)

Financing Business

Trade Associations

Business Units

Occupation

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Pregunta 25 Informe

The application of division of labour should generally bring about

increase in the quantity of goods and service Respuesta correcta

increase in the variety of goods and services

cheapness of goods and services

cost efficiency in the production of goods and services

Detalles de la respuesta

Lee la nota de la lección en Production (WAEC)

Lee la nota de la lección en Commerce (JAMB)

Lee la nota de la lección en Occupation (WAEC)

Production

Commerce

Occupation

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Pregunta 26 Informe

Mr Olatude took up a fire insurance on a property valued at N1000 and the amount insured is N 800. If the insurance was taking with the clause ?with average ?, What is the amount to be paid by the insurance company?

N480

Respuesta correcta

N420

N460

N560

Detalles de la respuesta

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Pregunta 27 Informe

Bank overdraft as a short term source of fund is

an overdrawn account Respuesta correcta

granted to a newly opened account

repayable after more than a year

a current liability

Detalles de la respuesta

One of the most important external sources of short-term finance, particularly for smaller businesses, is the overdraft. An overdraft facility allows the business to spend more money than is deposited in the bank account. The amount of the overdraft will rise and fall as funds are deposited and spent from the account.

Lee la nota de la lección en Financing Business (JAMB)

Financing Business

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Pregunta 28 Informe

A group of specialized functions of marketing is

buying, selling, storing and information

buyimg, selling, advertising and packaging

buying, selling, labelling and promotion Respuesta correcta

buying , selling, skimmimg and pricing

Detalles de la respuesta

A group of specialized functions of marketing includes buying, selling, labeling, and promotion. Marketing is a broad business function that involves identifying, satisfying, and retaining customers by creating, communicating, delivering, and exchanging value. Buying and selling are the core functions of marketing. They involve identifying customer needs and wants, acquiring products or services to meet those needs, and then selling them to the customer. Labeling is the process of creating and attaching product labels or tags that provide information about the product to the customer, such as its ingredients, nutritional information, and usage instructions. Promotion includes all the activities that are designed to promote a product, service, or brand, such as advertising, sales promotion, public relations, and personal selling. The goal of promotion is to create awareness, interest, desire, and action among the target audience. In summary, a group of specialized functions of marketing includes buying, selling, labeling, and promotion, which are essential to identify, satisfy, and retain customers by creating, communicating, delivering, and exchanging value.

Lee la nota de la lección en Advertising (WAEC)

Lee la nota de la lección en Elements Of Marketing (JAMB)

Lee la nota de la lección en Trade Associations (JAMB)

Lee la nota de la lección en Money (JAMB)

Advertising

Elements Of Marketing

Trade Associations

Money

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Pregunta 29 Informe

The major condition for obtaining loan in thrift, credit and loans cooperative societies is

provision of collateral security Respuesta correcta

a high level of education

possesssion of a large business

an approved project plan

Detalles de la respuesta

The major condition for obtaining a loan in thrift, credit, and loan cooperative societies is "provision of collateral security". Collateral security is an asset or property that is pledged by the borrower to secure the loan. This provides the lender with some assurance that they will be able to recover the loan amount in case the borrower is unable to repay the loan. Collateral can include things like property, stocks, or other assets that have value. When a borrower applies for a loan from a cooperative society, they are required to provide collateral security that is worth at least the amount of the loan. The collateral is evaluated by the society to determine its value and the borrower's ability to repay the loan. Therefore, collateral security is a major condition for obtaining a loan in cooperative societies, and it provides assurance to the lender that the loan will be repaid even if the borrower defaults.

Lee la nota de la lección en Financing Business (JAMB)

Lee la nota de la lección en Occupation (WAEC)

Financing Business

Occupation

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Pregunta 30 Informe

The composite functions of management are?

planning, supervising, communicating

planning, controlling, organising and directing Respuesta correcta

coordinating, supervising , staffing and comunicating

directing, supervising, motivating, and controlling

Detalles de la respuesta

The composite functions of management are the fundamental tasks that managers perform in order to achieve organizational goals. These functions include planning, organizing, directing, and controlling. Planning involves setting goals and objectives, and determining the resources and strategies needed to achieve them. Organizing involves arranging resources and personnel in a coordinated manner to achieve these goals. Directing involves guiding and supervising employees to carry out the planned activities. Finally, controlling involves monitoring progress and taking corrective action as necessary to ensure that the goals are being achieved.

Lee la nota de la lección en Elements Of Business Management (JAMB)

Lee la nota de la lección en Introduction To Business Management (WAEC)

Elements Of Business Management

Introduction To Business Management

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Pregunta 31 Informe

The stock Exchange helps to provide capital for of industrial project because it

determines value of shares, stocks and other securities

assist government in implementing its monetary plicies

assist companies to exchange their securities into cash Respuesta correcta

renders agency services to organizations and government

Detalles de la respuesta

The stock exchange helps to provide capital for industrial projects because it assists companies to exchange their securities into cash. A company can issue stocks, bonds or other securities and offer them for sale on the stock exchange, thus making it possible for the public to purchase them. This generates capital for the company which can be used to fund its industrial projects. Additionally, the stock exchange provides a secondary market for these securities, enabling investors to sell their shares and recover their investments, which can further attract new investors to buy into the company and support its growth. Therefore, the stock exchange serves as a vital platform for raising capital and promoting industrial development.

Lee la nota de la lección en Stock Exchange (JAMB)

Stock Exchange

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Pregunta 32 Informe

Tourists with no fixed address in a town may receive their letters from the post office through a

recorded delivery

poste restante Respuesta correcta

parcel post

postmaster

Detalles de la respuesta

When tourists are traveling and have no fixed address or permanent residence in a town, they can receive their letters or packages by using the service of poste restante. Poste restante is a service provided by the post office, which holds the mail until the recipient collects it. The recipient needs to show identification when collecting the mail, and they can collect it during the post office's working hours. This service is particularly useful for tourists who are on the move and do not have a permanent address in a particular town.

Lee la nota de la lección en Transport, Tourism, Communication And Warehousing (WAEC)

Transport, Tourism, Communication And Warehousing

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Pregunta 33 Informe

A shortcoming of the Second-tier Foreign Exchange Market in Nigeria is that it

serves as a mechanism for evaluating an unrealistic exchange rate for the naira

creates unhealthy competition amongst users of foreign exchange Respuesta correcta

contributes to destabilizing national resource allocation

contributes to flooding the market with foreign essential commodities

Detalles de la respuesta

Lee la nota de la lección en Purchase And Sale Of Goods (JAMB)

Lee la nota de la lección en Money (JAMB)

Purchase And Sale Of Goods

Money

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Pregunta 34 Informe

The function of a merchant wholesaler is to

buy in bulk, store and sell to retailerss as desired Respuesta correcta

posses title to the goods, store and sale to retailers

bring buyers and sellers together

find markets for producers' finished goods

Detalles de la respuesta

Lee la nota de la lección en Purchase And Sale Of Goods (JAMB)

Lee la nota de la lección en Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

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Pregunta 35 Informe

The first known legislation to protect consumer rights in Nigeria is the

Usury Laws

Hire purchase Act

Sales of Goods Act Respuesta correcta

Foood and Drugs Act

Detalles de la respuesta

Lee la nota de la lección en Legal Aspect Of Business (WAEC)

Lee la nota de la lección en Production (JAMB)

Legal Aspect Of Business

Production

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Pregunta 36 Informe

On liquidation of a public limited liability company, the residual owners are the

creditors

ordinary shareholders Respuesta correcta

preference shareholders

debenture holders

Detalles de la respuesta

When a public limited liability company is liquidated, the residual owners are the ordinary shareholders. Ordinary shareholders are the owners of the company who have purchased shares in the company, which represents a part ownership of the business. They are also known as equity shareholders because they have equity in the company. In the event of a liquidation, ordinary shareholders are the last in line to be paid, after all of the company's debts and obligations have been settled. This means that if there is any money left over after all the debts have been paid, it will be distributed to the ordinary shareholders. However, if there are no funds left over, the shareholders will not receive any payment. In summary, the residual owners of a public limited liability company on liquidation are the ordinary shareholders, who are the owners of the company and have equity in it. They are the last to be paid after all debts and obligations have been settled.

Lee la nota de la lección en Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Pregunta 37 Informe

The insurance principle that requires full disclosure of information on the insured is known as

indemnity

uberrimae fidei Respuesta correcta

subrogation

caveat emptor

Detalles de la respuesta

The insurance principle that requires full disclosure of information on the insured is known as "uberrimae fidei". This means that the insured is required to disclose all material facts about the risk they want to insure to the insurer. This principle is also known as the principle of utmost good faith. It ensures that the insurer has all the necessary information to make an informed decision on the level of risk involved in insuring the policy, which can help determine the premium paid by the insured. If the insured fails to disclose any material facts, the insurer may void the policy, which means that they will not pay any claims.

Lee la nota de la lección en Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

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Pregunta 38 Informe

The type of advertising that seeks to persuade consumers to buy a particular product is

Informative advertising

Competitive advertising

Persuasive advertising Respuesta correcta

mass and specific advertising

Detalles de la respuesta

The type of advertising that seeks to persuade consumers to buy a particular product is called persuasive advertising. This type of advertising aims to create a desire for the product or service and convince the consumer that it is the best choice. It often uses emotional appeals and focuses on the benefits and unique selling points of the product to persuade consumers to make a purchase.

Lee la nota de la lección en Advertising (WAEC)

Advertising

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Pregunta 39 Informe

The chart above represent the?

product mix relationship

marketing mix relationship Respuesta correcta

promotion mix elationship

advertising mix relationship

Detalles de la respuesta

Lee la nota de la lección en Elements Of Marketing (JAMB)

Elements Of Marketing

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Pregunta 40 Informe

Amina Enterprises Balance Sheet as at 30/3/99
Liabilities	₦	Assets	₦
Share capital	400,000	Land	200,000
Reserve fund	200,000	Buildings	150,000
Creditors	110,000	Machinery	200,000
Bills payable	50,000	Implements	20,000
Undistributed profits	45,000	Office fittings	5,000
Wages due	5,000	Raw materials	100,000
		Finished goods	50,000
		Debtors	20,000
		Bills receivable	15,000
		Cash at bank	45,000
		Cash at hand	5,000

Use the information below to answer question

What is the total fixed capital?

N 570,000

N 575,000
Respuesta correcta

N 675,000

Detalles de la respuesta

Lee la nota de la lección en Commerce (JAMB)

Lee la nota de la lección en Occupation (JAMB)

Commerce

Occupation

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Pregunta 41 Informe

The basic elements of a valid contract are

offer, acceptance, consideration and witness

offer, intention, acceptance and legality

offer, acceptance, intention, capacity and legality

offer, acceptance, capacity, legality and consideration Respuesta correcta

Detalles de la respuesta

Lee la nota de la lección en Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

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Pregunta 42 Informe

An invoice can be described as a

contractual agreement for the sale of goods

document specifying quantity, description, prices and total value of purchase Respuesta correcta

receipt containing necessary information about the goods

letter specifying the contractual sales of goods between two parties

Detalles de la respuesta

An invoice is a document that specifies the details of a transaction between a seller and a buyer. It includes the quantity, description, prices, and total value of the goods or services that have been sold, as well as any applicable taxes or discounts. It serves as a formal request for payment from the buyer to the seller and is used as evidence of the transaction.

Lee la nota de la lección en Purchase And Sale Of Goods (JAMB)

Purchase And Sale Of Goods

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Pregunta 43 Informe

The share capital value that forms part of the balance sheet total is the

paid-up share capital Respuesta correcta

called-up share capital

authorized share capital

issued share capital

Detalles de la respuesta

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Pregunta 44 Informe

The Central Bank differs from commercial banks because it?

renders service to customers

carries out foreign exchange transactions

issues currencies Respuesta correcta

discounts bills

Detalles de la respuesta

The Central Bank differs from commercial banks because it issues currencies. While commercial banks provide services to customers, carry out foreign exchange transactions, and discount bills, the Central Bank is the only institution that has the authority to issue legal tender currencies. Additionally, the Central Bank is responsible for regulating and overseeing the banking system, implementing monetary policy, and managing the country's reserves.

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Commerce

Money

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Pregunta 45 Informe

The legal aspect of business is designed to

protect business organization and consumers Respuesta correcta

safeguard consumers from undue business practices

protect infant industries from collapse

encourage free exchanges among businesses

Detalles de la respuesta

The legal aspect of business is designed to protect both the business organizations and consumers. It ensures that businesses operate in a fair and ethical manner and don't engage in fraudulent or deceptive practices that could harm consumers. The laws also provide mechanisms for consumers to seek recourse and compensation if they are harmed by a business. Additionally, the legal framework aims to safeguard consumers from undue business practices such as monopoly, price fixing, and other anti-competitive behaviors. Overall, the legal aspect of business is essential for creating a level playing field and promoting fair and honest business practices that benefit both businesses and consumers.

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Legal Aspects Of Business

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Pregunta 46 Informe

The major factors that facilitate merchandising are

commuincation , advertising and banking

trading, warehousing and production

management, insurance, and advertising

banking, insurance and transportation Respuesta correcta

Detalles de la respuesta

The major factors that facilitate merchandising are banking, insurance, and transportation. Banking provides financial services like loans, overdrafts, and account management, which are necessary for businesses to operate and grow. Insurance protects businesses against unforeseen risks, like fire, theft, or damage to goods during transit. Transportation is crucial in moving goods from one place to another, and it includes modes like road, rail, air, and sea transport. Together, these factors make it easier for businesses to produce, store, and sell their goods, which facilitates the process of merchandising.

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Lee la nota de la lección en Occupation (WAEC)

Commerce

Occupation

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Pregunta 47 Informe

The computer using linear integrated circuit technology coupled with quantification of data in terms of length and distance is known as?

digital computer Respuesta correcta

analogue computer

mainframe computer

hybrid computer

Detalles de la respuesta

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Information And Communication Technology (ict)

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Pregunta 48 Informe

The three components of staffing are?

recruitment, selection and placement Respuesta correcta

recruitment, interview and appointment

recruitment , test and placement

recruitment, procurement and appointment

Detalles de la respuesta

The three components of staffing are "recruitment, selection, and placement". - Recruitment is the process of identifying and attracting qualified candidates for job openings within an organization. This can be done through various methods such as job postings, career fairs, and employee referrals. - Selection involves evaluating the candidates that have been recruited and deciding which ones are the best fit for the job. This process typically involves screening resumes, conducting interviews, and administering tests to assess the candidates' skills and abilities. - Placement is the final step in the staffing process and involves assigning the selected candidate to the appropriate position within the organization. This includes providing job offers, negotiating terms of employment, and onboarding the new employee. By following these three components, organizations can ensure that they are hiring the most qualified candidates for their job openings and placing them in positions where they can be successful.

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Occupation

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Pregunta 49 Informe

The practice whereby soft drink manufacturers give away caps, bags and other items when consumers buy their product is a form of

marketing strategies

publicity

advertising

saels promotion Respuesta correcta

Detalles de la respuesta

The practice of giving away caps, bags, and other items when consumers buy soft drinks is a form of sales promotion. Sales promotion is a marketing strategy that uses short-term incentives to encourage consumers to buy a product or service. It is a technique used by companies to stimulate demand, increase sales, and gain a competitive advantage. Giving away free items such as caps, bags, or other promotional items is a popular form of sales promotion used by soft drink manufacturers. By offering free items, manufacturers create a sense of value for the customer, which can encourage them to buy more of their product. Sales promotion activities like these are usually time-limited and designed to create an immediate response from consumers. They can include a range of activities such as discounts, coupons, contests, and free gifts. In summary, the practice of giving away caps, bags, and other items by soft drink manufacturers when consumers buy their product is a form of sales promotion, which is a marketing strategy used to stimulate demand and increase sales.

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Advertising

Purchase And Sale Of Goods

Elements Of Marketing

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Pregunta 50 Informe

The main difference between nationalization and indigenization is in terms of

shareholding

profit

technology Respuesta correcta

efficiency

Detalles de la respuesta

Lee la nota de la lección en Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

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