Jamb 1995 Commerce Past Questions And Answers
1
In which of the following sets of occupations can an industrial worker be found?
- A. extraction commerce and construction
- B. manufacturing extraction and banking
- C. construction, quarrying and insurance
- D. manufacturing , extraction and construction
2
The nominal value of a share as specified in the Memorandum of Association and the share certificate is the
- A. discounted value
- B. stock value
- C. face value
- D. par value
3
Construction activities include the building of houses and roads as well as
- A. brick laying
- B. shoe making
- C. black smithing
- D. car assembling
4
The main advantage of a sole trader is the freedom to
- A. employ anyone he likes
- B. seek advice from any source
- C. take quick decisions
- D. plough all the profits back into the business
5
The insurance policy which provides full cover against all risks at sea is known as
- A. Policy with Particular Average
- B. Policy Free of Particular Average
- C. Marine Freight Insurance
- D. Marine Voyage Policy Insurance
6
If a partnership deed is silent on how profits are to be shared, partners share profits
- A. in the ratio of the value of business secured by each partner for the partnership
- B. in the ratio of partner capital contributions
- C. in an equal proportion irrespective of partners's capital contributons
- D. according to duties performed by each partner
7
Freight note is a document
- A. used by government to transport goods from one country to another
- B. issued by a shipping company giving details of charges
- C. used for payment for imported goods
- D. given by an importer to pay for goods at a future period
8
The merger of two companies producing the same type of products is an example of
- A. vertical integration
- B. horizontal integration
- C. lateral merger
- D. an acquisition
9
Motivation is an essential element in management because it
- A. leads to the improvement of staff welfare
- B. encourage individual to work towards achieving the orgaization's objective
- C. reduce friction among employees in the process of achieving the company's objective
- D. helps to eliminate industrial disharmony
10
A public limited company can raise long-term loans through
- A. the capital market
- B. the money market
- C. bank overdrafts
- D. discount houses