Commerce 2020 Jamb Examination
Question 1
A limited liability company has a separate legal personality; it can sue and be sued in its own name.
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Question 2
A freight note is issued by a shipping company giving details of charges for transporting goods.
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Question 3
The main components of commerce are trade and aids to trade, which include warehousing, transportation, insurance, and banking.
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Question 4
Extractive industries are primary industries because they are involved in obtaining raw materials from nature.
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Question 5
Both public and private limited companies in Nigeria are required to make their annual accounts available to the Corporate Affairs Commission.
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Question 6
Amount paid = (Sum insured ÷ Value of property) × Loss = (800 ÷ 1000) × 400 = ₦320.
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Question 7
In credit unions and thrift societies, members contribute based on their ability.
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Question 8
Copyright is the exclusive right of an author to his works, whether published or unpublished.
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Question 9
Motivation influences the intensity and persistence of people’s behavior in an organization.
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Question 10
Charges for loans paid by commercial banks to the Central Bank are called bank rates.
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