JAMB Commerce Past Questions & Answers - Page 221

1,101.

The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as

A.

excess charges

B.

demurrage charges

C.

permium charges

D.

trade charges

Correct answer is B

No explanation has been provided for this answer.

1,102.

The basic distinction between cash discount and trade discount is that while trade discount is

A.

for a period of 30 days, cash discount is for a period of 3 months

B.

given by a wholesaler, cash discount is given by a bank

C.

a reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value

D.

a reduction in the value of sales, cash discount is a reduction in price of goods

Correct answer is D

No explanation has been provided for this answer.

1,103.

A close indent is an instrument to an agent to

A.

order goods from a particular manufacturer

B.

order goods from any manufacturer

C.

sell gods to any firm

D.

sell goods to a certain firm

Correct answer is A

No explanation has been provided for this answer.

1,104.

Stevedores as a term in foreign trade means men who

A.

inspect goods in ships

B.

import goods by ships

C.

collect duties in ships

D.

load and unload ships

Correct answer is D

A stevedore, dockworker, docker, dock laborer, wharfie, wharf rat, lumper, and/or longshoreman is a waterfront manual laborer who is involved in loading and unloading ships.

1,105.

Excise duties are paid on goods that are

A.

imported into the country

B.

manufactured within the company

C.

exported to other clonutries

D.

kept in bond warehouses

Correct answer is B

No explanation has been provided for this answer.