JAMB Past Questions and Answers - Page 23

111.

A major merit of the retaining middlemen is to _______

A.

pay cash to the bank: for manufacturers

B.

stock perishable goods

C.

regulate price for manufacturers

D.

stock goods produced by different manufacturer

Correct answer is D

No explanation has been provided for this answer.

112.

An example of extractive occupation is ______

A.

mining

B.

teaching

C.

banking

D.

driving

Correct answer is A

All the options are classification of production.
It involves people whose activities are directed to the process of bringing out natural resources from the soil and sea.

113.

Another name or term for a dishonoured cheque is ______

A.

an order cheque

B.

a bounced cheque

C.

a bearer cheque

D.

an open cheque

Correct answer is B

A cheque is said to be bounced if the cheque is being rejected or dishonoured by the bank. Another name for dishonoured cheque is a bounced cheque

114.

A partnership is dissolved due to ________

A.

liquidity of the firm

B.

death of the employee

C.

insanity of a partner

D.

resignation of an employee

Correct answer is C

This can lead to the dissolution of partners.

115.

A major function of trade association is to _______

A.

assist members to buy cars

B.

help individuals to set up small business

C.

establish a link among member

D.

foster cooperation among members

Correct answer is D

They foster cooperation among members.