Jamb Commerce Past Questions and Answers

Question 1111:

• JAMB 2014

Which of the following attracts only interest but leaves the capital unpaid

A. A long-term loan
B. A development bond
C. A redeemable bond
D. An irredeemable bond

Question 1112:

• JAMB 2014

A loan to a customer with a cheque account at a bank in which the account is allowed to go into debit is

A. Overdraft
B. Advance
C. Interest
D. Commission

Question 1113:

• 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 1114:

• 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

Question 1115:

• JAMB 2014

A form of money with face value which is greater than the value of the metal content is

A. Legal tender
B. Bank notes
C. Token money
D. Commodity money