2007 - JAMB Commerce Past Questions and Answers - page 4
31
The major function of a trade association is that it?
A
liases with foreign trade associations
B
helps to promotes foreign trade
C
facilitates members' access to credit facilities
D
helps to promote resarch on behalf of members
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32
A major setback of international trade is?
A
inadequate exports
B
economic sanctions
C
devaluation of currency
D
exchange rate appreciation
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33
Which of the following requires payment into the payee's account?
A
Crossed cheque
B
Traveller's cheque
C
Open cheque
D
Certified chegues
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34
The traditional way of paying cooperative dividend is to distribute profit in proportional to members'?
A
subscriptions
B
total savings
C
volume of purchase
D
contributions
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35
A share premium is an example of?
A
issued capital
B
capital stock
C
equity capital
D
capital reserve
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36
The abbreviation C and F indicate that the?
A
production cost excludes the cost of carriage
B
selling price includes the cost of carriage
C
cost of production includes dilivery charges
D
cost price includes the cost of carriage
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37
The sale of of foreign investment and gold reserves can be used to?
A
correct adverse balance of trade
B
increase invisible imports
C
correct adverse balance of payment
D
correct a budget deficit
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38
A major benefit a debtor can derive from using a credit facility is?
A
better service
B
goodwill
C
convenience
D
control
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39
The function of money that facilitates the comparison of the quality of goods as a basis of exchange is the?
A
unit of account
B
measure of value
C
store of value
D
medium of exchange
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40
The difference between the buying and selling price of shares is known as?
A
brokerage
B
margin
C
jobber's turn
D
gross profit
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