JAMB Past Questions and Answers - Page 25

121.

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.

122.

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

123.

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.

124.

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.

125.

What document is required when a country imposes valorem import duties on goods?

A.

mail transfer

B.

shipping note

C.

bill of lading

D.

consular invoice

Correct answer is B

This is a document that gives details of goods being sent from one place to another.