JAMB Commerce questions: Warehousing

13 questions with answers and explanations. Tap an option to check yourself.

1. Question 1· Warehousing· JAMB

   Warehousing helps to stabilise prices by

   • Aselling only on credit
   • Bincreasing import duties
   • Creleasing goods when supply is short
   • Dadvertising goods

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2. Question 2· Warehousing· JAMB

   Import duty on goods in a bonded warehouse may be paid

   • Abefore the goods are imported
   • Bin advance on all the goods
   • Cnever
   • Din instalments as the goods are withdrawn

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3. Question 3· Warehousing· JAMB

   Proper warehousing reduces losses from

   • Adeterioration, theft and fire
   • Badvertising
   • Ctaxation
   • Dcompetition

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4. Question 4· Warehousing· JAMB

   A warehouse warrant is

   • Aa tax receipt
   • Ba document of title to goods stored
   • Ca cheque
   • Dan insurance policy

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5. Question 5· Warehousing· JAMB

   A public warehouse is

   • Aavailable for use by any member of the public for a fee
   • Bowned by one manufacturer only
   • Ca shop
   • Da bank

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6. Question 6· Warehousing· JAMB

   A warehouse owned by government or a company and rented out to traders is

   • Aa bonded warehouse
   • Ba private warehouse
   • Ca public warehouse
   • Da manufacturer's warehouse

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7. Question 7· Warehousing· JAMB

   Manufacturers keep their own warehouses mainly to

   • Asell directly to tourists
   • Bstore raw materials and finished goods
   • Cadvertise
   • Dinsure

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8. Question 8· Warehousing· JAMB

   A warehouse is best located

   • Afar from any road
   • Bin a remote forest
   • Cnear transport routes, markets or production centres
   • Don a floodplain

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9. Question 9· Warehousing· JAMB

   A bonded warehouse is used to store

   • Agoods owned by government only
   • Bgoods for local retailers
   • Cperishable farm produce
   • Dimported goods on which duty has not been paid

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10. Question 10· Warehousing· JAMB

    Which of these is a function of warehousing?

    • AIt makes seasonal goods available all year round
    • BIt moves goods from place to place
    • CIt insures goods against fire
    • DIt advertises goods

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11. Question 11· Warehousing· JAMB

    A feature of a good warehouse is

    • Adistance from roads
    • Bno roof
    • Csecurity and suitable storage conditions
    • Dopen doors always

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12. Question 12· Warehousing· JAMB

    A warehouse owned by a manufacturer for keeping its own finished goods is

    • Aa public warehouse
    • Ba bonded warehouse
    • Ca private warehouse
    • Da customs shed

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13. Question 13· Warehousing· JAMB

    Imported goods kept in a bonded warehouse may be released after the importer has

    • Apaid VAT to the retailer
    • Breceived an invoice
    • Cpaid the customs duty
    • Dreceived an insurance claim

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    Explanation and discussion