Jamb Commerce 1997 Past Questions and Answers

Question 21:

• JAMB 1997

The total amount that a company is allowed to raised according to its memorandum of association is known as

A. Issued capital
B. Authorized capital
C. Called-up capital
D. Paid-up capital

Question 22:

• JAMB 1997

A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.
What is the authorized capital?

A. N40 000
B. N50 000
C. 100 000
D. 200 000

Question 23:

• JAMB 1997

The turnover of firm maybe affected by

A. The demand for its product
B. The cost of its goods sold
C. Its closing stock
D. Its net assets

Question 24:

• JAMB 1997

The cost of transporting goods to consumers called

A. Carried inward
B. Carried forward
C. Carried paid
D. Carried outward

Question 25:

• JAMB 1997

The cost of transporting goods to consumers called

A. Carried inward
B. Carried forward
C. Carried paid
D. Carried outward