JAMB Commerce Past Questions & Answers - Page 142

706.

Which of the middlemen in the channel of distribution has tittle to the goods he distributes?

A.

The merchant wholesaler

B.

The agent

C.

The limited wholersaler

D.

The retailer

Correct answer is A

No explanation has been provided for this answer.

707.

A major function of a chamber of commerce is?

A.

increaseing productivity

B.

promoting both home and foreign trade

C.

promoting trade in a particular line

D.

maximizing profit

Correct answer is B

No explanation has been provided for this answer.

708.

A type of credit offered by both commercial and merchant banks in Nigeria is?

A.

trade credit

B.

line of credit

C.

discounting facility

D.

overdraft

Correct answer is D

No explanation has been provided for this answer.

709.

A cheque drawn by a bank official on the bank's deposits in another bank on a customer's instruction is known as?

A.

promissary note

B.

bankdraft

C.

banker's order

D.

travellers' cheque

Correct answer is C

No explanation has been provided for this answer.

710.

The necessary documents used in foreign trade are?

A.

bill of lading, invoice and letter of inqiry

B.

indent, bill of exchange, bill of lading and voice

C.

voice, shipping note, bill of lading and freight note

D.

shipping note, certificate of origin and visible exports

Correct answer is C

No explanation has been provided for this answer.