Jamb Commerce 1994 Past Questions and Answers

Question 46:

• JAMB 1994

The West African clearing House became legally operational on

A. 1st july, 1976
B. 25th june, 1975
C. 14th march, 1975
D. 3rd may, 1974

Question 47:

• JAMB 1994

The lake Chad Basin commission was founded to enable member states

A. Expand the volume of water in the lake for fishing activities
B. Increase navigational activities on the lake
C. Dam the lake for electricity and agricultural purposes
D. Co-ordinate their efforts in managing the use of the lake's resources

Question 48:

• JAMB 1994

What is the working capital as at December 31,1992?

A. N 65 250
B. N60 000
C. N 48 650
D. N 41 950

Question 49:

• JAMB 1994

A company earned a total revenue of N108 million with a total cost of N91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.

A. N24.65 million
B. N17.00million
C. N9. 35 million
D. N7.65million

Question 50:

• JAMB 1994

Commerce is defined as the study of how

A. Man utilizes the resources in his physical environment
B. Man produces, distributes and consumes his goods and services
C. Man buys, sells and distributes goods and services
D. Raw materials are changed into finished goods