Financing Business - Jamb Commerce Past Questions and Answers

Question 11:

• 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.

stock Purchase	1000 7000	Sales	8000
Closing Stock	3000

Trading Expenses the figures given, calculate

Net profit

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

Question 12:

• 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.

stock Purchase	1000 7000	Sales	8000
Closing Stock	3000

Trading Expenses the figures given, calculatePercentage of net profit to turnover

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

Question 13:

• JAMB 1994

What are fixtures and fittings in a balance sheet?

A. Liquid capital
B. Current assets
C. Fixed assets
D. Working capital

Question 14:

• JAMB 1994

What is the working capital as at December 31,1992?

A. N 65 250
B. N60 000
C. N 48 650
D. N 41 950

Question 15:

• JAMB 1994

A company earned a total revenue of N108 million with a total cost of N91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.

A. N24.65 million
B. N17.00million
C. N9. 35 million
D. N7.65million