JAMB Commerce Past Questions & Answers - Page 96

476.

An arrangement by independent firms to share the market of their products on quota basis is referred to as?

A.

trust

B.

integration

C.

syndicate

D.

cartel

Correct answer is C

syndicate is an association of people or organizations that is formed for business. It is a group of individuals or organizations combined to promote a common interest.

477.

One of the main features of a partnership is?

A.

limited liability

B.

lack of corporate existence

C.

unlimited membership

D.

lack of utual confidence

Correct answer is B

No explanation has been provided for this answer.

478.

The warehouse that is owned and controlled by the government is a?

A.

wholesalers' warehouse

B.

public warehouse

C.

state warehouse

D.

manufaturers' warehouse

Correct answer is C

State warehouse: This is owned and controlled by the government of a country. It is a warehouse where smuggled or contraband goods are kept.

479.

A major hindrance to tourism growth in Nigeria is?

A.

absence of genunie tour operators

B.

lack of tourism master plan

C.

inadequate tourist centres

D.

non-compliance to immigration laws

Correct answer is B

No explanation has been provided for this answer.

480.

An agent who brings a customer into business contact with his principle is known as?

A.

a del credere agent

B.

an auctioneer

C.

a factor

D.

a broker

Correct answer is D

A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed.