2015 JAMB Commerce Past Questions

Calculate the value of the unused stock.

What is the cost of good sold?

\(\scriptsize\begin{array}{c|c}
N & N \\
\hline
\text{Capital 8000} & \text{Plant and machinery5000} \\
\hline
\text{Net profit 4000} & \text{Motor van 4500} \\
\hline
\text{Drawings 200} & \text{Stock 2000} \\
\hline
\text{Creditors 2000} & \text{Debtor 1000} \\
\hline
\text{Accruals 300} & \text{Bank 100} \\
\hline
& \text{Cash 600} \\
\hline
14100 & 14100 \\
\end{array}\)

What is the current ratio?

\(\scriptsize\begin{array}{c|c}
\text{Name} & \text{Insure amount} & \text{Actual value} & \text{Actual loss} \\
\hline
\text{Mr A} & 30,000 & 100,000 & 40,000 \\
\hline
\text{Mr B} & 40,000 & 120,000 & 50,000 \\
\hline
\text{Mr C} & 50,000 & 15,000 & 70,000 \\
\end{array}\)

If Mr A takes a fire insurance policy with average clause, his compensation will be

The term “4 net 7” on an invoice means that

Musa obtains wool from his sheep, spins and transforms it into cloth which he sells to consumers, this is a form of

The principle of subrogation states that                           

The difference between a private and public limited liability company is that the former                           

A type of long-term loan granted to companies with fixed interest rate as well as with redeemable and irredeemable features is referred to as a/an

A bond which attracts interest but leaves the capital repaid is referred to as a/an                           

The measure of independence available to the individual business units that come together is the main difference between                           

In the permanent storage device, DASD means

The development of commercial activities in Nigeria was harnessed by

The forum for the selling and buying of securities of small and medium companies is called                           

The external environmental factors that affect a business operation are                           

In a typical manufacturing enterprise, the line function is performed by the                           

A Memorandum of Association is applicable to a

An agent who takes title to goods and has authority to buy and sell on behalf of another is                           

Resource committed to the production of relatively few commodities is known as

A direct service is rendered by

The business organisation established mainly for the purpose of carrying out a specific assignment for a specific duration is a

A machine which enables sales without the physical presence of sales attendant is a

The effective and efficient delivery of the desired satisfaction by a firm is said to be the practice of

The document that gives an important freehand to obtain goods from any manufacturer is

A company has an authorised capital of 100millon shares at N1 per share, out of which 50 million shares have been issued and fully paid-up. The remaining 50 million shares have

Which of the following best describes an invoice?

A market where new shares are tracked is known as the

The application of division of labour would generally bring about                           

The computer using linear integrated circuit technology complied with quantification of data in term of length and distance is                           

The internet is a system of telecommunication used for                           

Which of the following is classified as an immaterial want?

In product pricing, which of these elements need more consideration than others?

The major determinant of fire insurance premium is the                           

The agency in Nigeria which ensures that products conform to government quality specification is the                           

Citizens are against privatisation mainly because of

The vessels that operate on a specific route on high seas and oceans are                           

When an oil exploring and mining company builds a health centre in one community where it operates, such a company is                           

The World Tourism Organisation has it headquarters in                           

A cheque drawn by a bank official on the bank’s deposit in another bank on a customer’s deposit in another bank is a                           

The development of commerce in West Africa was not hampered by                           

\(\scriptsize\begin{array}{c|c}
N & N \\
\hline
\text{Capital 8000} & \text{Plant and machinery5000}\\
\hline
\text{Net profit 4000} & \text{Motor Van 4500} \\
\hline
\text{Drawings 200} & \text{Stock 2000} \\
\hline
\text{Creditors 2000} & \text{Debtors 1000} \\
\hline
\text{Accurals 300} & \text{Banks 100} \\
\hline
& \text{Cash 600} \\
\hline
14100 & 14100 \\
\end{array}\)

What is the current ratio?

Second-tier Securities Market differ from the First-tier Securities Market in that the former is

Inbound tourism occurs when

The document issued to a port authority when goods are deposited is a                           

The circulating capital of a business enterprise is classified into

The implied provisions in every sale of goods as contained in the Sales of Goods Act of 1893 are conditions and                           

Mammy Plc, whose nominal capital is made up of 5,000,000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.

What is the company authorized shares capital?

Communication enhances business activities by

The business environment that takes into cognizance the age distribution, ethnic mix and educational level of the consumer is the