JAMB Commerce Past Questions & Answers - Page 17

81.

The factors which critically determines the choice of occupation is

A.

Skill

B.

Training

C.

Aptitude

D.

Interest

Correct answer is A

Occupation is a person's usual or principal work or business, especially as a means of earning a living; any activity in which a person is engaged

Factors That Determine Types of Occupation are Climate and weather differences. Education, Skill and Training. Natural Resources. Salary and Wages.

82.

The board of directors of public enterprise is appointed by who?

A.

Employees

B.

management

C.

government

D.

shareholders

Correct answer is D

In a stock corporation, non-executive directors are voted for by the shareholders and the board is the highest authority in the management of the corporation. The board of directors appoints the chief executive officer of the corporation and sets out the overall strategic direction.

83.

A title, symbol, or design that distinguishes a company is called

A.

Brand name

B.

Trademark

C.

copyright

D.

Patent right

Correct answer is B

A trademark, trade mark, or trade-mark is a recognizable sign, design, or expression which identifies products or services of a particular source from those of others

trademark is a symbol, word, or words legally registered or established by use as representing a company or product.

84.

The duties paid on goods produced locally is

A.

Ad-valorem duty

B.

excise duty

C.

export duty

D.

quota

Correct answer is B

An excise duty is a type of tax charged on goods produced within the country

excise duty is a percentage levied on manufacture, sale, or use of locally produced goods

85.

The Central Bank Monetary policy instrument by which it buys and sells securities is called

A.

Bank rate

B.

Cash reserve ratio

C.

Open market operation

D.

Bank credit

Correct answer is C

Open market operations (OMO) refer to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system.

Open Market Operations. Definition: The Open Market Operations refers to the sale and purchase of government securities and treasury bills by the central bank of the country with a view to regulate the supply of money in the economy.