Jamb Commerce 2013 Past Questions and Answers

Question 16:

• JAMB 2013

In order to increase the capital owned, a sole trader may

A. Seek for bank loan
B. Issue debentures
C. Acquire extra shop fittings on credit
D. Draw less of his profit for personal use

Question 17:

• JAMB 2013

A business partner who provides capital but abstains from participation in administration of a firm is a

A. General partner
B. Nominal partner
C. Secret partner
D. Dormant partner

Question 18:

• JAMB 2013

Which of the following will not be stated in a Memorandum of Association

A. Name clause
B. Rights of shareholders
C. Object clause
D. Registered office

Question 19:

• JAMB 2013

The amount of authorized capital that shareholders have subscribed to is

A. Issued share capital
B. Authorized share capital
C. Owner's equity
D. Working capital

Question 20:

• JAMB 2013

The rate of turnover of a firm in a given year is 5 times while the average stock is #12,500. what is the turnover of the firm?

A. #24,000
B. #46,500
C. #62,500
D. #65,000