1994 - JAMB Commerce Past Questions and Answers - page 4
31
Which of the following must be present in an agency by agreement?
A
intentions
B
will
C
consent
D
authority
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32
An agreement to sell is distinguishable from sale because in the former, the transfer of goods is
A
not anticipated
B
not discussed
C
deferred
D
immediate
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33
Mr Amusa says to Mr Bello 'i will sell you this hat for N30'. And Mr Bello replied 'i will pay N29'. The contract is
A
an offer and acceptance
B
an implied contract
C
a complete simple contract
D
an offer but no acceptance
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34
Nationalization of an industry means that its ownership becomes that of
A
government
B
shareholders
C
taxpayers
D
indigenes
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35
The comprehensive import supervision scheme was set up by the federal government in order to
A
reverse Nigeria's unfavourable balance of trade
B
promote fair trade between Nigeria and other countries
C
counteract all fraudulent business deals of Nigeria with other nationals
D
ensue that import into Nigeria are of the correct quality, value and quantity
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36
Which of the following has power to order withdrawal of a particular food item from circulation?
A
Standard organisation of Nigeria
B
Federal High courts in Nigeria
C
Food and Drug Department of the Federal Ministry of health
D
Local government health inspector
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37
Which of the following maxims negate the principle of collective bargaining?
A
individual employees have weak bargaining base
B
individual employees attain strength when they come together in union
C
only members of the union can benefit from agreements negotiated by the union
D
collective bargainig covers the vast majority of employees, whether union members or not
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38
NACCIMA stands for
A
Nigerian-American Center for Culture,Civic, Industries, Minerals and Arts
B
Nigerian Association for Culture ,Civic, Industries, Minerals and Arts
C
National Agency for Culture, Civilization, Investment, Manufacturing, and Agriculture
D
Nigerian association of Chambers of commerce, Industries, Mines and Agriculture
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39
For establishment of a powerful consumers' association in Nigeria to exist, there must be
A
financial and moral support from the public
B
honest and commited leadership
C
allocation of goods from the producer
D
freedom from external influence
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40
which of the following is the most important business resource?
A
money
B
management
C
materials
D
manpower
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