JAMB Commerce Past Questions & Answers - Page 238

1,186.

The postal organization which preceded the Nigerian Postal Service is

A.

Post and Telecommunication

B.

Post and Telephone

C.

Post and Teleprinter

D.

Post and Telegraph

Correct answer is D

No explanation has been provided for this answer.

1,187.

Which of the following statements is TRUE about sea transport?

A.

all ships have specific routes to ply

B.

all ships must be insured at every journey

C.

all ships are insured separately from the crew

D.

all ships normally arrive at their destination with goods

Correct answer is C

No explanation has been provided for this answer.

1,188.

A pro forma invoice is NOT required when

A.

quoting for the supply of goods

B.

goods are sent on approval

C.

dealing regularly with a customer

D.

final prices are uncertain

Correct answer is C

No explanation has been provided for this answer.

1,189.

The difference between the total payments for imports and the receipts from exports within a given period is referred to as

A.

balance of payments

B.

balance of trade

C.

comparative cost advantage

D.

comparative advantage

Correct answer is A

No explanation has been provided for this answer.

1,190.

The rate at which a country's exports exchange for its imports is called

A.

balance of payments

B.

balance of trade

C.

terms of payment

D.

terms of trade

Correct answer is D

No explanation has been provided for this answer.