Financing Business - Jamb Commerce Past Questions and Answers

Question 101:

• JAMB 2018

What is the difference between current assets and current liabilities?

A. Working capital
B. Nominal capital
C. Capital employed
D. Issued capital

Question 102:

• JAMB 2018

Erroneous real arrangement of financial figure such as writing N624 as N264 is called?

A. Ommission
B. Commission
C. Transposition
D. Principle

Question 103:

• JAMB 2018

The share capital value that forms part of the balance sheet total is the?

A. Issued share capital
B. Called-up share capital
C. Authorised share capital
D. Paid-up share capital

Question 104:

• JAMB 2018

i. personal savings. ii. retained earnings iii. accrued taxes. Which of the items constitute internal sources of financing for companies?

A. I and ii
B. I and iii
C. Ii and iii
D. I, ii and iii

Question 105:

• 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