Commerce 2024 Jamb Examination

Pre-Sales Service/ice focuses on activities that precede the actual sale, like providing information, demonstrating products, and qualifying potential customers. Granting credit or hire purchase facilities is a part of the sales process that happens after a customer has decided to purchase. It's a financial arrangement to facilitate the purchase, not a pre-sales activity. 

A seller responds to an inquiry by sending a quotation detailing prices, terms, and conditions of the goods or services requested.

The periodic payment made by the insured to maintain insurance coverage is called the premium.

Nationalization aims to bring private industries under government ownership and control to manage strategic sectors and resources effectively.

Closing stock refers to the inventory remaining at the end of an accounting period and is also called stock at close.

The first Nigerian Enterprises Promotion Decree was enacted in 1972 to encourage indigenous participation in business and industry.

An agreement that is legally enforceable is termed a contract, binding the parties to its terms under the law.

Excise duty is a tax levied on goods produced and consumed domestically, aimed at raising revenue and regulating production.

Advertising aims to attract attention, create interest, and build confidence in goods; it does not directly reduce production costs.

A prospectus is a formal invitation to the public to purchase shares in a company, providing details of the shares and terms.