Jamb Commerce 2023 Past Questions and Answers

Question 71:

• JAMB 2023

The concept that refers to the sale, transfer or exchange of goods and services is

A. Trade
B. Tariff
C. Industry
D. Marketing

Question 72:

• JAMB 2023

At the collapse of a business enterprises, the person appointed to dispose off the assets is called

A. An auctioneer
B. An auditor
C. A broker
D. A liquidator

Question 73:

• JAMB 2023

An announcement of a person's willingness to enter into a contract is referred to as

A. An acceptance
B. A proxy
C. Consideration
D. An offer

Question 74:

• JAMB 2023

An example of a cartel is

A. ECOWAS
B. AU
C. OPEC
D. EU

Question 75:

• JAMB 2023

	₦		₦
Stock 1/1	20,000	Net Sales	370,000
Add purchases	250,000
Cost of goods available for sale	270,000
Less stock 31/12	40,000
Cost of goods sold	230,000
Rent expenses	35,000

Find the gross profit

A. ₦150,000
B. ₦370,000
C. ₦230,000
D. ₦140,000