Jamb Commerce Past Questions and Answers

Question 1016:

• JAMB 2012

A company has an authorized capital of 40 million shares at N1 each, out of which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares?

A. It has been issued but not paid-up
B. It has been applied for but not issued
C. It is not paid-up
D. It has not yet been issued

Question 1017:

• JAMB 2012

Given:
opening stock #1,800
purchases #2,800
sales #8,000
closing stock # 350
carriage on sales # 500
calculate the value of the unused stock.

A. #800
B. #500
C. #350
D. #320

Question 1018:

• JAMB 2012

The main objective of a trade association is to

A. Protect its members against litigation
B. Boost the trade of its members
C. Secure credit for its members
D. Protect its members against victimization

Question 1019:

• JAMB 2012

The promotion and protection of trade industry and agriculture through trade fairs is a function of

A. NACRDB
B. NACCIMA
C. The consumer protection council
D. The chamber of commerce

Question 1020:

• JAMB 2012

Securities that entitle the investor to coupon rates are

A. Bonds
B. Equities
C. Warrants
D. Treasury bills