Financing Business - Jamb Commerce Past Questions and Answers

Question 81:

• JAMB 2012

If the rate of turnover of a company in 1999 was 4 times while the average stock was N 49,600, determine the turnover.

A. N 199,400
B. N 198,400
C. N100,200
D. N99,200

Question 82:

• 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 83:

• 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

Question 84:

• JAMB 2014

Part payments made on allotted shares by subscribers is usually the

A. Subscribed capital
B. Authorized capital
C. Issued capital
D. Called-up capital

Question 85:

• JAMB 2014

The net profit is the excess of gross profit and sources of income over all the expenses . This implies that net profit is

A. The difference between gross profit and trade expenses
B. The different between gross profit and net sales
C. Sales less cost of sales including sales returns
D. Opening stock add purchases less closing stock