Jamb Commerce Past Questions and Answers

Question 51:

• JAMB 2019

One of the disadvantages of Sole Proprietorship is__________

A. It requires small operations
B. It involves small capital
C. It lacks specialization
D. Grants from government

Question 52:

• JAMB 2019

In the formation of a united liability company, the following documents are prepared except_______

A. Memorandum of Association
B. Article of Association
C. Statement of Nominal Capita
D. Prospectus

Question 53:

• JAMB 2019

The process of winding up or bringing a company to an end is________

A. Dissolution
B. Liquidation
C. Integrating
D. Merger

Question 54:

• JAMB 2019

Use the following information to answer this question.

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate Current assets

A. 1600
B. 1060
C. 1500
D. 600

Question 55:

• JAMB 2019

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital	5000
Net Profit	1000
Furniture	2000
Equipment	2900
Debtors	100
Stock	1000
Bank	500

From the above, calculate fixed assets

A. 6500
B. 2000
C. 4900
D. 600