Commerce 2024 Jamb Examination
Question 31
The policy aimed at increasing Nigerian participation in ownership and management of businesses is known as indigenity.
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Question 32
Working capital is calculated using current assets and current liabilities. Stock of raw materials is part of current assets.
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Question 33
If a cheque is stolen, the drawer (Mr. Ade) must instruct his bank to stop payment to prevent unauthorized withdrawal.
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Question 34
A contract is terminated by performance when all parties have fulfilled their obligations as agreed.
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Question 35
The deliberate jettisoning of goods to save a ship is a general average loss, where the loss is shared proportionally among all stakeholders.
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Question 36
The traditional marketing mix consists of product, price, place, and promotion. Personnel is not included.
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Question 37
Shares sold below their nominal or face value are said to be sold at a discount.
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Question 38
Franco price indicates that the seller bears all costs to deliver goods to the buyer's warehouse.
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Question 39
The Nigerian Standards Organization is responsible for monitoring and ensuring quality standards of goods supplied.
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Question 40
The difference between the bid (buy) and ask (sell) prices of shares is called the jobbers turn.
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