JAMB UTME - Commerce - 2001 | Green Bridge CBT

Swali 1 Ripoti

(i) Personal Savings

(ii) Retained Earnings

(iii) Accrued taxes

Which of the items above constitute internal sources of financing for companies?

i and ii

i and iii

ii and iii Jibu sahihi

i, ii and iii

Maelezo ya Majibu

Soma maelezo ya somo kwenye Financing Business (JAMB)

Soma maelezo ya somo kwenye Occupation (WAEC)

Financing Business

Occupation

Tazama Jibu

Swali 2 Ripoti

Which of the following best describes the classification of computer?

Mini-computer, speed and size

Micro-computer, cost and abilities

Mini-computer, Micro-computer and work station Jibu sahihi

Mini-computer , hybrid and digital

Maelezo ya Majibu

The best description of the classification of computers is "Mini-computer, Micro-computer and work station". This is because computers can be classified based on their size, processing power, and capabilities. Mini-computers are larger and more powerful than micro-computers, while workstations are specialized computers designed for a specific task. Therefore, the classification of computers is not based on just one factor but on several factors such as size, processing power, and capabilities.

Soma maelezo ya somo kwenye Information And Communication Technology (ict) (JAMB)

Soma maelezo ya somo kwenye Legal Aspects Of Business (JAMB)

Information And Communication Technology (ict)

Legal Aspects Of Business

Tazama Jibu

Swali 3 Ripoti

The maximum number of shareholders in a public liability company is?

twenty

fifty

one hundred

unlimited Jibu sahihi

Maelezo ya Majibu

The maximum number of shareholders in a public liability company is unlimited. A public liability company (PLC) is a type of business structure in which ownership is divided into shares and the company is publicly traded on a stock exchange. As a result, there is no limit to the number of shareholders who can hold shares in a PLC. In contrast, a private limited company (Ltd) has a limit on the number of shareholders, which is typically set at a maximum of 50. This means that a private limited company cannot sell its shares to the general public. In summary, the maximum number of shareholders in a public liability company is unlimited, while a private limited company has a maximum of 50 shareholders.

Soma maelezo ya somo kwenye Occupation (JAMB)

Occupation

Tazama Jibu

Swali 4 Ripoti

The capital owned is

₦2,740

₦1,350

₦1,150

₦570 Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Business Capital And Profits (WAEC)

Business Capital And Profits

Tazama Jibu

Swali 5 Ripoti

The main factors that determine the value of a stock on the stock Exchange are dividend and

the psychology of the market

capital gain

capital appreciation Jibu sahihi

warrant payment

Maelezo ya Majibu

When you buy a share of stock, you essentially become a part-owner of the company. As a part-owner, you are entitled to receive a share of the company's profits in the form of dividends. The value of a stock on the stock exchange is largely determined by the dividends the company pays out to its shareholders. Another important factor that influences the value of a stock is capital gain, which is the difference between the price you paid for the stock and the price you sell it for. Capital appreciation, which refers to the increase in the value of a stock over time, is also an important factor that affects its value. Warrant payment, on the other hand, is a separate financial instrument that gives the holder the right to buy or sell a stock at a certain price and time, and does not directly affect the value of the stock itself.

Soma maelezo ya somo kwenye Stock Exchange (JAMB)

Stock Exchange

Tazama Jibu

Swali 6 Ripoti

The pivot on the wheel of commerce rotates is

tariff

trade Jibu sahihi

taxation

price

Maelezo ya Majibu

The pivot on the wheel of commerce is trade. Trade is the exchange of goods and services between buyers and sellers. It is the buying and selling of goods and services at different prices, with the aim of making a profit. Trade is the foundation of commerce, and it involves the movement of goods and services from the point of production to the point of consumption. Without trade, commerce would not exist.

Soma maelezo ya somo kwenye Trade (WAEC)

Soma maelezo ya somo kwenye Commerce (JAMB)

Trade

Commerce

Tazama Jibu

Swali 7 Ripoti

The significance of money to modern economic system is that it?

is used as a means of payment

promotes specialization and exchange

measures value and promotes exchange Jibu sahihi

causes inflation in the economy

Maelezo ya Majibu

Soma maelezo ya somo kwenye Money (JAMB)

Money

Tazama Jibu

Swali 8 Ripoti

If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?

N2,760

N3,000 Jibu sahihi

6,500

9,500

Maelezo ya Majibu

Soma maelezo ya somo kwenye Purchase And Sale Of Goods (JAMB)

Soma maelezo ya somo kwenye Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Tazama Jibu

Swali 9 Ripoti

The capital employed is

₦1,000 Jibu sahihi

₦1,370

₦140

₦50

Maelezo ya Majibu

Soma maelezo ya somo kwenye Business Capital And Profits (WAEC)

Business Capital And Profits

Tazama Jibu

Swali 10 Ripoti

At the collapse of a business enterprise, the person appointed to dispose of all assets is called

a broker

an auctioneer

a liquidator Jibu sahihi

an auditor

Maelezo ya Majibu

When a business enterprise collapses, the person appointed to dispose of all the assets is called a liquidator. A liquidator is a person who is responsible for winding up the affairs of a company or an organization. They are appointed by the court or the creditors of the company to sell the assets of the company and distribute the proceeds among the creditors and shareholders. The liquidator's primary duty is to ensure that the assets are sold at the best possible price to maximize the returns to the creditors and shareholders.

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Occupation (WAEC)

Commerce

Occupation

Tazama Jibu

Swali 11 Ripoti

One major advantage of a credit and thrift cooperative is that

It can approach government for loan

It encourages saving habit Jibu sahihi

there are no legal restrictions

each member has a vote during meetings

Maelezo ya Majibu

A credit and thrift cooperative has several advantages, but one major advantage is that it encourages saving habits. Members of the cooperative pool their savings and can access credit facilities at reasonable rates. By saving, members can meet their financial goals, such as acquiring assets or starting a business. Additionally, members can also invest their savings in various cooperative projects that generate income. Overall, a credit and thrift cooperative promotes a culture of thriftiness and financial discipline, which can lead to long-term financial stability for its members.

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Occupation (JAMB)

Commerce

Occupation

Tazama Jibu

Swali 12 Ripoti

The merchant wholesaler is referred to as

del-credere agent Jibu sahihi

a broker

rack jobber

a factor

Maelezo ya Majibu

Soma maelezo ya somo kwenye Commerce (JAMB)

Commerce

Tazama Jibu

Swali 13 Ripoti

The balance of payments of countries is

a record of imports and export Jibu sahihi

a systematic record of transaction among countries at a given time

the current and the capital accounts and their payments

the trade relationships and payment among nations

Maelezo ya Majibu

Soma maelezo ya somo kwenye Trade (WAEC)

Soma maelezo ya somo kwenye Commerce (JAMB)

Trade

Commerce

Tazama Jibu

Swali 14 Ripoti

One of the reasons why wholesaling must continue is that?

the tax paid by wholesalers on their profit enhances national revenue

by creating artificial scarcity, the wholesaler is enhencing competition

the wholesaler provides technical advice to the retailer

the gap between manufacturers and retailers is reduce byn wholesalers Jibu sahihi

Maelezo ya Majibu

The reason why wholesaling must continue is that wholesalers help bridge the gap between manufacturers and retailers. Wholesalers buy goods in large quantities from manufacturers and sell them in smaller quantities to retailers, who then sell to consumers. Wholesalers also provide a range of services to both manufacturers and retailers, including transportation, storage, financing, and technical advice. This makes it easier for manufacturers to distribute their products to a wider range of retailers and for retailers to access a broader range of products at competitive prices. Therefore, the wholesaling sector plays a crucial role in the distribution and marketing of goods, making it an important part of the economy.

Soma maelezo ya somo kwenye Purchase And Sale Of Goods (JAMB)

Soma maelezo ya somo kwenye Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Tazama Jibu

Swali 15 Ripoti

Departmentalization is an aspect of?

planing

organising Jibu sahihi

directing

controlling

Maelezo ya Majibu

Departmentalization is an aspect of organizing in management. It involves the grouping of activities and tasks into specialized units or departments based on the functions, products, geography, or customers of the organization. The purpose of departmentalization is to create a more efficient and effective organizational structure, where tasks are assigned to specific departments and employees with specialized skills can focus on their assigned tasks. Departmentalization can help to improve communication, increase accountability, and facilitate coordination between different areas of the organization. Departmentalization is an important aspect of organizing because it provides a framework for the allocation of resources and the delegation of responsibilities. By dividing the organization into smaller units, managers can more easily monitor and control the activities of their subordinates, and ensure that everyone is working towards the same goals.

Soma maelezo ya somo kwenye Introduction To Business Management (WAEC)

Introduction To Business Management

Tazama Jibu

Swali 16 Ripoti

Which of these companies offers after-sales services?

iii

ii Jibu sahihi

Maelezo ya Majibu

Tazama Jibu

Swali 17 Ripoti

A factor necessary for siting a warehouse is nearness to

raw materials

labour

capital

consumers Jibu sahihi

Maelezo ya Majibu

A factor necessary for siting a warehouse is nearness to consumers. This is because the main purpose of a warehouse is to store goods before they are distributed to the end consumers. Therefore, it is important for a warehouse to be located in close proximity to the target market to reduce transportation costs and ensure timely delivery of goods. Additionally, proximity to consumers allows for better inventory management and reduces the risk of stockouts.

Soma maelezo ya somo kwenye Transport, Tourism, Communication And Warehousing (WAEC)

Soma maelezo ya somo kwenye Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)

Transport, Tourism, Communication And Warehousing

Purchase And Sale Of Goods In Home And Foreign Trade

Tazama Jibu

Swali 18 Ripoti

Which of the following services does a lawyer render?

industrial services

indirect services

direct services Jibu sahihi

commercial services

Maelezo ya Majibu

A lawyer typically renders direct services. This means that the lawyer provides legal advice, represents clients in court, negotiates on their behalf, prepares legal documents, and carries out other activities directly related to the practice of law. Some lawyers may also provide indirect services, such as acting as consultants for businesses or other organizations, but the primary role of a lawyer is to provide direct legal services to clients. Therefore, direct services is the best answer to the question.

Soma maelezo ya somo kwenye Legal Aspects Of Business (JAMB)

Soma maelezo ya somo kwenye Legal Aspect Of Business (WAEC)

Legal Aspects Of Business

Legal Aspect Of Business

Tazama Jibu

Swali 19 Ripoti

One major characteristic of credit unions and thrift societies is that?

the legal processes involved in their formation are rigid

membership is compulsory to people in the same line of business

the contribution of every member depends on the member's ability Jibu sahihi

a minimum of ten people in the same line of business can form the union

Maelezo ya Majibu

Tazama Jibu

Swali 20 Ripoti

A pro-forma invoice is sent to inform a buyer about the

quantity of goods

prices of goods Jibu sahihi

designation of goods

quality of goods

Maelezo ya Majibu

Soma maelezo ya somo kwenye Purchase And Sale Of Goods (JAMB)

Purchase And Sale Of Goods

Tazama Jibu

Swali 21 Ripoti

The major difference between insurance and assurance is that while insurance

takes care of uncertainty, assurance takes care of risks

takes care of risks , assurance takes care of uncertainty

hinges on probabilities, assurance is based on possibilities Jibu sahihi

is about indemnity, assurance is about life in the future

Maelezo ya Majibu

Soma maelezo ya somo kwenye Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Tazama Jibu

Swali 22 Ripoti

The temporary working area of the central processing unit is called the?

C-D ROM

C-D RAM Jibu sahihi

ROM

RAM

Maelezo ya Majibu

Soma maelezo ya somo kwenye Information And Communication Technology (ict) (JAMB)

Information And Communication Technology (ict)

Tazama Jibu

Swali 23 Ripoti

Warehousing is a productive function because it increase the

quantity of goods Jibu sahihi

utility of goods

quality of goods

price of goods

Maelezo ya Majibu

Soma maelezo ya somo kwenye Transport, Tourism, Communication And Warehousing (WAEC)

Soma maelezo ya somo kwenye Production (WAEC)

Transport, Tourism, Communication And Warehousing

Production

Tazama Jibu

Swali 24 Ripoti

Use the information below to answer question 20 and 21

Mr Awala is a retailer of a single product. he sells at the standard price. He gives a trade discount of 5%, quantity discount of 3% for a volume above 1000 units and a cash of discount of 2/10 net 30. the existing selling price of the product is N100 per units. Mr Bacus purchased 1500 units of the product on credit and promised to pay Mr. Awala in cash in the first 10 days after purchase.

The trade discount receivable by Mr Bacus is

N4,500

N7,500 Jibu sahihi

N10,500

N12,000

Maelezo ya Majibu

Mr Awala offers a trade discount of 5% on the selling price of N100 per unit. So the trade discount receivable by Mr Bacus is: 5% of 100 * 1500 = N7,500 Therefore, the trade discount receivable by Mr Bacus is N7,500.

Tazama Jibu

Swali 25 Ripoti

In the line type of organizational structure,

the lines of authority are vertical

there is the application of division of labour

specialization is carried to a maximum degree Jibu sahihi

the lines of authority are horizontal

Maelezo ya Majibu

Tazama Jibu

Swali 26 Ripoti

One of the main objectives of the Second-tier Securities Market in Nigeria is to

achieved a realistic exchange rate for the naira

eliminate currency dealings in the black market

assist companies to raise capital

attract investment flow Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Stock Exchange (JAMB)

Stock Exchange

Tazama Jibu

Swali 27 Ripoti

One way government reduces the repatriation of capital is through

nationalization

divestiture

indidenization Jibu sahihi

naturalization

Maelezo ya Majibu

Soma maelezo ya somo kwenye Legal Aspect Of Business (WAEC)

Legal Aspect Of Business

Tazama Jibu

Swali 28 Ripoti

The activities aimed at finding out customers' needs and satisfaction can be described as?

social-marketing

macro-marketing

micro-marketing

conceptual marketing Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Elements Of Marketing (JAMB)

Elements Of Marketing

Tazama Jibu

Swali 29 Ripoti

The major procedures in the purchase and sale of goods are enquiry

quotation, order and invoice Jibu sahihi

placement, order and invoice

bargin, order and invoice

order, sale, and invoice

Maelezo ya Majibu

The major procedures in the purchase and sale of goods usually involve several steps. The first step is usually an enquiry, where the buyer expresses interest in purchasing a product and asks for more information. After the enquiry, the seller usually provides a quotation, which is a document that outlines the price and terms of the sale. If the buyer agrees to the quotation, they will place an order, which is a formal request to purchase the product. The seller will then prepare an invoice, which is a document that outlines the details of the sale, including the price, quantity, and payment terms. Therefore, the major procedures in the purchase and sale of goods are enquiry, quotation, order, and invoice.

Soma maelezo ya somo kwenye Purchase And Sale Of Goods (JAMB)

Purchase And Sale Of Goods

Tazama Jibu

Swali 30 Ripoti

Entrusting the management of a company to the courts to enable the settlement of the company’s obligations is an indication of?

distress

closure

bankruptcy Jibu sahihi

liquidation

Maelezo ya Majibu

Entrusting the management of a company to the courts to enable the settlement of the company's obligations is an indication of bankruptcy. This happens when a company is unable to pay off its debts and obligations to creditors, and its assets are not enough to cover these debts. When a company becomes bankrupt, its management is usually handed over to the courts, and the assets of the company are liquidated to pay off its creditors. This process is aimed at ensuring that the creditors of the company are able to recover as much of their debt as possible, and also to bring closure to the affairs of the company.

Soma maelezo ya somo kwenye Legal Aspects Of Business (JAMB)

Legal Aspects Of Business

Tazama Jibu

Swali 31 Ripoti

The Nigerian Stock Exchange publishes a daily official list that gives full information on the?

method of transation agreed to by members

number of participating members in a day

changes in the prices and earnings of securities Jibu sahihi

changes in the official rules set by the market

Maelezo ya Majibu

The Nigerian Stock Exchange publishes a daily official list that gives full information on the changes in the prices and earnings of securities traded on the exchange. The official list provides up-to-date information on the market capitalization, share prices, and trading volumes of listed companies, as well as details on the performance of the various indices used to track the performance of the market. It also provides information on new listings, delistings, and other corporate actions affecting listed companies. The purpose of the official list is to provide transparency and accountability in the Nigerian capital market. It allows investors to make informed decisions about their investments, and helps to promote confidence and stability in the market. The official list is an important tool for market participants, regulators, and other stakeholders in the Nigerian financial system.

Soma maelezo ya somo kwenye Stock Exchange (JAMB)

Stock Exchange

Tazama Jibu

Swali 32 Ripoti

A documentary bill will normally be accompanied by

sales invoice, bill of lading and insurance certificate

clean bill, bill of lading, and insurance certificate

bill of lading, consular invoice, and insurance certificate

consular invoice, FOB certificate and bill of lading Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Purchase And Sale Of Goods (JAMB)

Soma maelezo ya somo kwenye Commerce (JAMB)

Purchase And Sale Of Goods

Commerce

Tazama Jibu

Swali 33 Ripoti

One of the obstacles to achieving the objectives of ECOWAS is?

lack of a common currency

colonial linkages

sovereignty of states

language differences Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Economic Groupings (WAEC)

Economic Groupings

Tazama Jibu

Swali 34 Ripoti

The most effective type of advertising for branded product is?

direct advertising

Indirect advertising

informative advertising

competitive advertising Jibu sahihi

Maelezo ya Majibu

The most effective type of advertising for a branded product depends on various factors such as the product itself, the target audience, and the marketing budget. However, competitive advertising can be considered as the most effective type of advertising for branded products. Competitive advertising involves comparing the features, quality, and benefits of a product with those of its competitors to highlight the superiority of the branded product. This type of advertising appeals to customers who are looking for the best value for their money and want to make informed purchase decisions. Competitive advertising can also help to establish brand loyalty and increase market share. However, it is important to ensure that the comparisons made in the advertising are fair, accurate, and not misleading.

Soma maelezo ya somo kwenye Advertising (WAEC)

Advertising

Tazama Jibu

Swali 35 Ripoti

Use the information below to answer question 40 and 41.

Musa rented a room to adamu for N1,500 and N1,000 part-payment was made. Adamu brought Audu and Jacob his friends to stay in the room.

The two friends later paid balance of N500 to Musa.

Who are the parties to the contract of renting the room?

Musa and Jacob

Musa and Audu

Adamu and Musa Jibu sahihi

Audu and Jacob

Maelezo ya Majibu

The parties to the contract of renting the room are Musa and Adamu. Musa rented the room to Adamu for N1,500, and part-payment of N1,000 was made by Adamu. This means that Musa and Adamu are the original parties to the contract. Audu and Jacob are not parties to the contract because they were not involved in the original agreement to rent the room. However, Audu and Jacob are subtenants of Adamu and may have a separate agreement with him regarding the use of the room.

Soma maelezo ya somo kwenye Trade (JAMB)

Soma maelezo ya somo kwenye Occupation (WAEC)

Trade

Occupation

Tazama Jibu

Swali 36 Ripoti

Who is the offeree in this contract ?

Musa

Audu

Adamu Jibu sahihi

Jacob

Maelezo ya Majibu

Soma maelezo ya somo kwenye Legal Aspect Of Business (WAEC)

Soma maelezo ya somo kwenye Occupation (WAEC)

Legal Aspect Of Business

Occupation

Tazama Jibu

Swali 37 Ripoti

The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is?

trust certificate

detachable warrant

mortage bond Jibu sahihi

converttible securities

Maelezo ya Majibu

The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is a "mortgage bond". A mortgage bond is a type of bond secured by specific assets, such as real estate or other property, which serves as collateral to protect the lender in case of default. In the case of mortgage bonds, the collateral is usually a pool of mortgage loans made by the issuer. This means that the value of the collateral typically exceeds the value of the bonds issued, making it a more secure form of borrowing for investors.

Tazama Jibu

Swali 38 Ripoti

A function organization structure is where?

staff performing the same functions are grouped together

department performing similar functions grouped together

activities of similar nature are grouped together

staff performing similar functions are grouped together Jibu sahihi

Maelezo ya Majibu

In a functional organizational structure, staff who perform similar functions are grouped together. This means that employees who have similar roles and responsibilities are placed into departments that are focused on specific functions, such as finance, marketing, or human resources. This allows for specialization and expertise within each department, which can result in increased efficiency and productivity. The functional structure is often used in larger organizations where there is a need for clear divisions of labor and where departments must work together to achieve common goals.

Soma maelezo ya somo kwenye Elements Of Business Management (JAMB)

Soma maelezo ya somo kwenye Introduction To Business Management (WAEC)

Elements Of Business Management

Introduction To Business Management

Tazama Jibu

Swali 39 Ripoti

The partner that only contributes part of the capital used in the formation and running of a business is known as?

a passive partner

an active partner

a dormant partner Jibu sahihi

a nominal partner

Maelezo ya Majibu

Soma maelezo ya somo kwenye Commerce (JAMB)

Commerce

Tazama Jibu

Swali 40 Ripoti

One of the main obstacles of establishing the Niger River Basin Commission was to?

embark on a comprehensive survey of the available water resources

carry research for the development of fresh water fisheries

develop infrastructure to facilitate economic activities

Jibu sahihi

promotes trade among member-state to improve standards of living

Maelezo ya Majibu

Soma maelezo ya somo kwenye Trade (WAEC)

Soma maelezo ya somo kwenye Commerce (JAMB)

Trade

Commerce

Tazama Jibu

Swali 41 Ripoti

A distinguishing characteristic of labour is that it is

constant

expensive

mobile Jibu sahihi

cost

Maelezo ya Majibu

The distinguishing characteristic of labor is that it is mobile. This means that labor can move from one place to another in search of employment opportunities. Unlike other factors of production, such as land and capital, labor can change locations easily, which gives workers the ability to respond to changes in the labor market. The mobility of labor also means that it can be more easily substituted or replaced than other factors of production.

Soma maelezo ya somo kwenye Occupation (JAMB)

Soma maelezo ya somo kwenye Occupation (WAEC)

Occupation

Tazama Jibu

Swali 42 Ripoti

Bank Giro is a method of settling debt from a

customer to a bank Jibu sahihi

bank to customer

customer to another

bank to another

Maelezo ya Majibu

Bank Giro is a method of settling debt from a customer to a bank. It involves the use of a pre-printed slip that is filled by the debtor (customer) with details of the payment to be made, such as the account number, amount, and other relevant information. The slip is then deposited at the bank, which processes the payment and credits the amount to the creditor's account. This method is commonly used for settling bills, loan repayments, and other types of payments.

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Production (JAMB)

Soma maelezo ya somo kwenye Trade (JAMB)

Commerce

Production

Trade

Tazama Jibu

Swali 43 Ripoti

Land as a factor of production does not vary in?

quantity Jibu sahihi

nature

quality

cost

Maelezo ya Majibu

Land as a factor of production refers to the natural resources such as soil, water, minerals, and forests that are used to produce goods and services. The quantity of land is fixed, meaning that it does not vary. The nature of land also remains constant, which means that it cannot be altered by human action. However, the quality of land can be improved or degraded depending on how it is managed. The cost of land may vary based on factors such as location and demand, but the land itself remains the same in terms of quantity and nature.

Soma maelezo ya somo kwenye Production (WAEC)

Production

Tazama Jibu

Swali 44 Ripoti

Who is the offeree in this contract ?

Musa

Audu

Adamu Jibu sahihi

Jacob

Maelezo ya Majibu

Soma maelezo ya somo kwenye Occupation (JAMB)

Occupation

Tazama Jibu

Swali 45 Ripoti

Proper disposal of waste by business firms is one way of discharging their?

responsibility to government

environmental responsibility Jibu sahihi

community responsibility

responsibility to customers

Maelezo ya Majibu

Proper disposal of waste by business firms is one way of discharging their environmental responsibility. This means that companies have an obligation to protect the environment and prevent harm to people and the planet by disposing of their waste properly. Businesses should ensure that their waste management practices comply with environmental regulations and standards, and that they do not cause pollution or harm to the environment. By taking responsibility for their waste, companies can contribute to sustainable development and protect the health and well-being of communities and ecosystems.

Soma maelezo ya somo kwenye Business Environment And Social Responsibility (JAMB)

Business Environment And Social Responsibility

Tazama Jibu

Swali 46 Ripoti

The difference between total current assets and total current liabilities of a business is known as

quick ratio

liquidity ratio

working capital Jibu sahihi

circulating capital

Maelezo ya Majibu

The difference between total current assets and total current liabilities of a business is known as working capital. It represents the funds available to a business for its day-to-day operations, such as paying bills and purchasing inventory. Working capital is an important measure of a company's financial health, as it indicates whether it has sufficient resources to continue operating in the short term. A positive working capital means that a company has enough assets to cover its short-term obligations, while a negative working capital indicates that a company may face difficulties in meeting its financial obligations.

Tazama Jibu

Swali 47 Ripoti

Pooling of risk in insurance means that?

compensations are paid out of a common fund Jibu sahihi

two people can pool their risks to be insured

two insurance companies can buy two policies

insurance companies should encourage taking risks.

Maelezo ya Majibu

Pooling of risk in insurance means that compensations are paid out of a common fund. When people purchase insurance, they pay premiums into a pool of funds managed by the insurance company. In the event that an insured person suffers a loss, such as damage to their property or an illness requiring medical treatment, the insurance company will use the premiums from the pool to compensate the insured for their loss. By pooling risks, the insurance company is able to spread the costs of losses across all policyholders, so that each individual does not bear the full cost of their own losses. This helps to protect individuals and businesses from financial losses that could be catastrophic, such as a fire that destroys a home or a business, or a serious illness that requires expensive medical treatment. Insurance companies use actuarial calculations and statistical analysis to determine the appropriate premiums to charge policyholders based on the level of risk they present, and the likelihood of losses occurring.

Soma maelezo ya somo kwenye Finance And Financial Institutions (WAEC)

Finance And Financial Institutions

Tazama Jibu

Swali 48 Ripoti

Use the information below to answer 38 and 39.

Companies i, ii, iii and iv produce and sell electronic videos.

Company i, sells video for N14,000 each and offers advice on how to fix and operate them .

Company ii, sells at N14,000 and its representatives go to install at no additional cost.

Company iii, sells at N15,500 and offers credit sales at N15,000 each.

Which of these companies are more engaged in public activities?

i and ii Jibu sahihi

i and iii

ii and iv

iii and iv

Maelezo ya Majibu

Companies i and ii are more engaged in public activities. Company i offers advice on how to fix and operate the electronic videos, which is a form of public service. This can help customers understand the product better and maximize its potential. Company ii sends representatives to install the videos at no additional cost, which is another form of public service. This can save customers time and money and provide them with a hassle-free installation experience. On the other hand, companies iii and iv do not offer any public activities. Company iii only offers credit sales at a discounted price, which is a marketing strategy aimed at increasing sales. Company iv is not even mentioned in the information provided.

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Occupation (WAEC)

Commerce

Occupation

Tazama Jibu

Swali 49 Ripoti

One of the major function of a chamber of commerce is to

promotes and protect trade, industry and agriculture Jibu sahihi

advise members on regulations of other countries

settle disputes that arise out of trade

publish books and periodical desired by members

Maelezo ya Majibu

A chamber of commerce is an association of businesses and organizations that work together to promote and protect trade, industry, and agriculture. One of its major functions is to provide a platform for businesses to network and collaborate with one another. The chamber of commerce also serves as an advocate for its members by representing their interests to government agencies and other organizations. Additionally, the chamber may provide services such as advising members on regulations of other countries, settling disputes that arise out of trade, and publishing books and periodicals desired by members.

Soma maelezo ya somo kwenye Trade (WAEC)

Soma maelezo ya somo kwenye Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)

Soma maelezo ya somo kwenye Commerce (JAMB)

Soma maelezo ya somo kwenye Money (JAMB)

Trade

Purchase And Sale Of Goods In Home And Foreign Trade

Commerce

Money

Tazama Jibu

Swali 50 Ripoti

A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a?

joint partnership Jibu sahihi

cooperative

corperation

joint venture

Maelezo ya Majibu

Tazama Jibu






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