Jamb Commerce 2021 Past Questions and Answers

Question 26:

• JAMB 2021

The excess of the assets over the liabilities of a business is called

A. Capital employed
B. Net worth
C. Working capital
D. Initial capital

Question 27:

• JAMB 2021

Use the information below to answer this question
A B C Balance Sheet as at 31/12/2004

₦Share capital 200,000Reserves 100,000Long term liabilities 40,000Current liabilities 30,000 370,000

₦Fixed assets 180,000Investment 100,000Current assets 50,000Fictitious assets 40,000 370,000

The total sum of financing short term projects is

A. ₦ 30,000
B. ₦200,000
C. ₦70,000
D. ₦40,000

Question 28:

• JAMB 2021

Use the information below to answer this question
A B C Balance Sheet as at 31/12/2004

₦Share capital 200,000Reserves 100,000Long term liabilities 40,000Current liabilities 30,000 370,000

₦Fixed assets 180,000Investment 100,000Current assets 50,000Fictitious assets 40,000 370,000

What is the capital employed?

A. ₦ 340,000
B. ₦ 200,000
C. ₦ 300,000
D. ₦ 170,000

Question 29:

• JAMB 2021

A distinctive advantage of GSM is its

A. Cost
B. Stability
C. Coverage
D. Mobility

Question 30:

• JAMB 2021

A form of money that has gone out of use is

A. Paper money
B. Commodity money
C. Foreign money
D. Bank money