Commerce 2014 Jamb Examination
Question 21
Jettison is the deliberate act of throwing cargo overboard to lighten a ship in distress.
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Question 22
Public corporations are established primarily to provide essential services to the public.
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Question 23
Forward integration occurs when a manufacturer merges with a distributor or retailer of its products.
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Question 24
A consortium is a group of independent organizations working together while retaining autonomy.
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Question 25
A prospectus is a formal document describing the types of shares and inviting public subscription.
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Question 26
An irredeemable bond pays interest indefinitely without repaying the principal.
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Question 27
An overdraft allows a bank customer to withdraw beyond their balance up to an agreed limit.
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Question 28
Called-up capital refers to the portion of subscribed shares that shareholders are required to pay.
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Question 29
Net profit is gross profit plus other income minus all expenses.
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Question 30
Token money has a face value higher than its intrinsic metal value.
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