Jamb Commerce Past Questions and Answers

Question 1181:

• JAMB 2015

\(\begin{array}{c|c}
\text{Opening stock} & 1800 \\
\hline
\text{Purchases} & 2800 \\
\hline
\text{Sales} & 800 \\
\hline
\text{Closing stock} & 800 \\
\hline
\text{Carriage on sale} & 500 \\
\end{array}\)
Calculate the value of the unused stock

A. N320
B. N350
C. N500
D. N800

Question 1182:

• JAMB 2015

Given
\(\begin{array}{c|c}
\text{Opening stock} & 50,000 \\
\hline
\text{Purchases} & 200,000 \\
\hline
\text{Sales} & 350,000 \\
\hline
\text{Closing stock} & 80,000 \\
\end{array}\)
What is the cost of good sold?

A. N200,000
B. N190,000
C. N170,000
D. N175,000

Question 1183:

• JAMB 2015

\(\begin{array}{c|c}
N & N \\
\hline
\text{Capital 8000} & \text{Plant and machinery5000}\\
\hline
\text{Net profit 4000} & \text{Motor Van 4500} \\
\hline
\text{Drawings 200} & \text{Stock 2000} \\
\hline
\text{Creditors 2000} & \text{Debtors 1000} \\
\hline
\text{Accurals 300} & \text{Banks 100} \\
\hline
& \text{Cash 600} \\
\hline
14100 & 14100 \\
\end{array}\)
What is the current ratio?

A. 1 : 4
B. 5 : 1
C. 3 : 1
D. 2 : 1

Question 1184:

• JAMB 2016

The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as

A. Demurrage charges
B. Premium charges
C. Excess charges
D. Trade charges

Question 1185:

• JAMB 2016

The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as

A. Demurrage charges
B. Premium charges
C. Excess charges
D. Trade charges