Calculation of turnover - Jamb Commerce Past Questions and Answers

Question 16:

• JAMB 2016

Commission on turnover is usually a benefit accruable to the

A. Drawer
B. Drawee
C. Payer
D. Payee

Question 17:

• JAMB 2016

When expenses on trading are deducted, the result is the

A. Rate of turn over
B. Net profit
C. Gross profit
D. Cost of goods sold

Question 18:

• 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%