JAMB Commerce Past Questions & Answers - Page 104

516.

The major dealers on the stock market are the?

A.

agents

B.

jobbers

C.

investors

D.

brokers

Correct answer is D

A broker is an individual or firm that acts as an intermediary between an investor and a securities exchange. Brokers are the major players in the stock exchange market.

517.

The characteristic which ensures that money is free from forgery is its?

A.

legality

B.

durability

C.

recongnition

D.

credibility

Correct answer is A

The legal backing of money makes it generally acceptable and protected by law as the acceptable means of legal tender, unlike counterfeit money that is produced without the legal sanction of the State or government.

518.

The manufacturers' Association of Nigeria is an example of a?

A.

labour union

B.

pressure group

C.

conglomerate

D.

cartel

Correct answer is B

No explanation has been provided for this answer.

519.

A body established to protect the interest of members against the exploitation of retail traders and manufacturers is the?

A.

wholesalers' association

B.

consumers association

C.

government agency

D.

workers' union

Correct answer is B

Consumer associations are organizations that examine and compare products in order to advise consumers on them as well as giving support to people who have problems with things they buy or businesses they patronized. They generally work for the interest of their members by looking out for them against being exploited and mistreated by retailers or wholesalers.

520.

if a firm has a turnover of N50 000 and the cost of goods sold is N40 000, what is the percentage of gross profit on sale?

A.

30.5%

B.

20.5%

C.

20.0%

D.

10.0%

Correct answer is C

No explanation has been provided for this answer.