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Commerce 2020 JAMB Past Questions

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1

A distinguishing characteristic of a limited liability company is that

  • A. is a collection of many sole proprietors
  • B. is a multiple partnership
  • C. has limited resources
  • D. can sue and be sued
View Answer & Discuss (1) JAMB 2020
2

Freight note is a document

  • A. issued by a shipping company giving details of changes
  • B. used by government to transport goods from one country to another
  • C. used for payment for imported goods
  • D. given by an importer to pay for goods at a future period
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3

Which of the following are the components of commerce?

I. trading and advertising
II. warehousing and transportation
III. packing and branding
IV. Insurance and banking

  • A. I and II
  • B. I,II and IV
  • C. II, III and IV
  • D. I and III
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4

Extractive industries may also be denominated as

  • A. direct industries
  • B. servicing industries
  • C. indirect industries
  • D. primary industries
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5

A common requirement for public and private limited companies in Nigeria is that

  • A. a shareholder cannot transfer his shares to someone else without permission from other shareholders
  • B. shares cannot be offered or sale on the stock exchange
  • C. their annual accounts are made available to the corporate affairs commission
  • D. shares can be offered for sale through an issuing house
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