Jamb Commerce 1998 Past Questions and Answers

Question 16:

• JAMB 1998

The form of capital which is easily transferred into the form desired is known as?

A. Working capital
B. Liquid capital
C. Circulating capital
D. Capital employed

Question 17:

• JAMB 1998

If a firm's turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales?

A. 23.3%
B. 33.3%
C. 50.0%
D. 66.6%

Question 18:

• JAMB 1998

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

A. Computer machine
B. Vending machine
C. Telex machine
D. Fax machine

Question 19:

• JAMB 1998

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

A. A mail transfer
B. A shipping note
C. A billb of lading
D. A consular invoice

Question 20:

• JAMB 1998

Enter pot trade is said to have taken place when goods are?

A. Held at the port payment of custom duty
B. Sold in the ship under special regulation
C. Imported and then re-export
D. Kept for further processing before sales