When does production ends?

When the goods reaches the final consumers

When the goods are distributed to the wholesalers

When the goods reaches the retailer

When the goods reaches the final consumers

When the goods are fully packaged

Transfer of ownership from government to individuals

Transfer of ownership from individual to government

Transfer of ownership from government to stakeholders

Transfer of ownership from government to individuals

Government taking charge of all businesses

The three components of staffing are?

recruitment, selection and placement

recruitment, interview and appointment

recruitment, selection and placement

recruitment, test and placement

recruitment, procurement and appointment

Sudden technological changes can have the effect of making?

a company's management style ineffective

the control mechanism difficult to implement

the motivational factors in the company difficult to monitor

The main objective of corporate mergers is to?

minimize the effect of taxation

Bank overdraft as a short term source of fund is

Grade to a newly opened account

Repayable after more than a year

Why will a cheque be dishonored?

high amount of money written on the cheque

JAMB UTME - Commerce - 2018 | Green Bridge CBT

Swali 1 Ripoti

The duties paid on goods produced locally is

Ad-valorem duty

excise duty

export duty

quota

Maelezo ya Majibu

The duty paid on goods produced locally is called "excise duty". Excise duty is a tax on goods that are produced, sold or consumed within a country, and is typically imposed at the point of production or sale. In other words, if you produce goods in a country and sell them within that same country, you will likely have to pay an excise duty. Excise duty can be levied on a wide range of products, including alcohol, tobacco, fuel, and luxury goods. The rate of excise duty varies depending on the type of product and the country in which it is produced. The purpose of excise duty is to generate revenue for the government and to discourage the consumption of certain products. Unlike ad-valorem duty, which is calculated as a percentage of the value of the goods, excise duty is usually calculated on a per-unit basis. For example, a certain amount of excise duty might be charged for each liter of alcohol produced or for each pack of cigarettes sold. Export duty, on the other hand, is a tax on goods that are exported out of a country. Quota is a restriction on the quantity of goods that can be imported or exported.

	N
sales	15,000
opening stock	5,600
purchase	9,700
closing stock	4,400
gross profit	4,500
net profit	2,000






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