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Commerce 2025 JAMB Past Questions

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21

The principle that applies when Greene and Sunwar Insurance Companies jointly indemnified Fatou for the destruction of her
storey building by fire is

 

  • A. contribution
  • B. subrogation
  • C. proximate cause
  • D. insurable interest
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22

Which of the following is a source of capital to a sole proprietorship?

 

  • A. Issue of debenture
  • B. Issue of shares
  • C. Loans from friends
  • D. Admission of new member
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23

A contract to take possession of goods on installment

 

  • A. trade-in-sale
  • B. hire purchase
  • C. conditional sale
  • D. credit sale
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24

Which of the following describes the reason for international trade?

 

  • A. Balance of payment
  • B. Absolute cost advantage
  • C. Balance of trade
  • D. Comparative cost advantage
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25

A new offer of contract that terminates the original offer is

 

  • A. an invalid offer
  • B. a void contract
  • C. a counter offer
  • D. quasi contract
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