JAMB Commerce Past Questions & Answers - Page 213

1,061.

When a price is quoted at F.O.B. it means that the price?

A.

excludes loading charges incurred in bringing the goods to port of destinction

B.

exclude all necessary shipping charges payable for insurrance

C.

includes all charges payable on shipping a consignment to the port destination

D.

includes charges payable for for loading goods onto the ship

Correct answer is C

No explanation has been provided for this answer.

1,062.

Enter pot trade is said to have taken place when goods are?

A.

held at the port payment of custom duty

B.

sold in the ship under special regulation

C.

imported and then re-export

D.

kept for further processing before sales

Correct answer is C

No explanation has been provided for this answer.

1,063.

What document is required when a country imposes ad valorem import duties on goods?

A.

A mail transfer

B.

A shipping note

C.

A billb of lading

D.

A consular invoice

Correct answer is B

No explanation has been provided for this answer.

1,064.

A machine which enable s sales without the physical presence of a sales attendant is a

A.

computer machine

B.

vending machine

C.

telex machine

D.

fax machine

Correct answer is B

No explanation has been provided for this answer.

1,065.

If a firm's turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales?

A.

23.3%

B.

33.3%

C.

50.0%

D.

66.6%

Correct answer is B

No explanation has been provided for this answer.