Jamb Commerce Past Questions and Answers

Question 1376:

• JAMB 2019

The process of winding up or bringing a company to an end is________

A. Dissolution
B. Liquidation
C. Integrating
D. Merger

Question 1377:

• 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

Question 1378:

• JAMB 2019

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 Fixed assets


A. 6500
B. 2000
C. 4900
D. 600

Question 1379:

• JAMB 2019

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 liabilities

A. 100
B. 6000
C. 600
D. 3000

Question 1380:

• JAMB 2019

In a law of contract, what is given in exchange for a promise to perform is_____

A. Offer
B. Acceptance
C. Warranty
D. Consideration