Jamb Commerce Past Questions and Answers

Question 1416:

• JAMB 2019

The basic characteristics of co-operative society include all except one

A. It is managed democratically
B. It follows the principle of one man
C. Amateur Management
D. Extra capital is raised through loan

Question 1417:

• JAMB 2019

Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

A. Private limited liability
B. Public limited liability
C. Partnership
D. Co-operative society

Question 1418:

• JAMB 2019

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

	₦		₦
Opening stockPurchase	10007000	Sales	8000
Closing Stock	3000

Trading Expenses

ElectricitySalariesRentDepreciations

₦135875180210

From the figures given, calculate


Gross profit

A. 300
B. 3000
C. 6000
D. 11000

Question 1419:

• JAMB 2019

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

	₦		₦
Opening stockPurchase	10007000	Sales	8000
Closing Stock	3000

Trading Expenses

ElectricitySalariesRentDepreciations

₦135875180210

From the figures given, calculate


Net profit

A. 1400
B. 5000
C. 1600
D. 6400

Question 1420:

• JAMB 2019

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

	₦		₦
Opening stockPurchase	10007000	Sales	8000
Closing Stock	3000

Trading Expenses

ElectricitySalariesRentDepreciations

₦135875180210

From the figures given, calculate


Percentage of net profit to turnover

A. 30%
B. 5%
C. 10%
D. 20%