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2686
Given:

Opening stock 40 000
Purchases 115 000
Closing stock 60 000
Sales 250 000
What is the cost of goods sold?
  • A. N 155 000
  • B. N 95 000
  • C. N 50 000
  • D. N 30 000
View Answer & Discuss JAMB 1995
2687
In the channel of distribution, which of the following sets is entirely made up of middlemen?
  • A. Wholesalers, retailers and agents
  • B. Manufacturers, consumers and retailers
  • C. Wholesalers, agents and consumers
  • D. Retailers, manufacturers and wholesalers
View Answer & Discuss JAMB 1995
2688
Goods imported into a country for the purpose of re-exporting attracts a rebate known as
  • A. customs draw back
  • B. export royalty
  • C. incentive
  • D. export rebate
View Answer & Discuss JAMB 1995
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2689
Most foreign trade transaction are paid for through the use of
  • A. central bank cheques
  • B. bank drafts drawn by commercial banks on their foreign branches
  • C. irrevocable and confirmed letters of credit
  • D. letters of credit authenticated by the embassies of the respective countries
View Answer & Discuss JAMB 1995
2690
RRF as a scheme introduced by the central bank of Nigeria means
  • A. recording and Rediscounting Facility
  • B. refinancing and Recording Facility
  • C. refinancing and Rediscounting Facility
  • D. refinancing and Reinvesting Facility
View Answer & Discuss JAMB 1995
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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