Jamb Commerce 1999 Past Questions and Answers

Question 6:

• JAMB 1999

A common requirement for public and private limited companies in Nigeria is that

A. A shareholder cannot transfer his shares to someone else without permission from other shareholders
B. Their annual account are made available to the Corporate Affairs Commision
C. Shares can be offered for sale on the stock exchange
D. Shares can be offered for sale through an issuing house

Question 7:

• JAMB 1999

The primary motive behind an individual engaging in production is to?

A. Fully engaged all the factors of production
B. Make available goods and services
C. Meets projected profit
D. Meet basic human needs

Question 8:

• JAMB 1999

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

A. Vertical integration
B. Horizontal integration
C. Forward intergration
D. Backward integration

Question 9:

• JAMB 1999

A company has an authorized capital of 40 million shares at N1 per share, out of which 32 million shares have been issued and fully paid-up. The remaining 8 million shares have

A. Been issued but have not been paid-up
B. Been applied for but not issued
C. Not been paid-up
D. Not yet been issued

Question 10:

• JAMB 1999

An abridged version of a company's income statement for 11993 contains the following information:
N
Turnover 286.5
cost of goods sold 147.5
overhead and other expenses 85.5
Taxes due for the year 26.9
What was the company's profit before tax for 1993?

A. 26.9 million
B. 53.5 million
C. 139.2 million
D. 286.5 million