Financing Business - Jamb Commerce Past Questions and Answers

Question 26:

• JAMB 1998

The form of capital which is easily transferred into the form desired is known as?

A. Working capital
B. Liquid capital
C. Circulating capital
D. Capital employed

Question 27:

• JAMB 1998

If a firm's turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales?

A. 23.3%
B. 33.3%
C. 50.0%
D. 66.6%

Question 28:

• JAMB 1998

Emeka ordered goods for his retail shop. The manufacturer sells the goods at retail price of N 500 but would give it to Emeka at N 400. What kind of discount did he get?

A. Cash discount
B. Trade discount
C. Quantity discount
D. Seasonal discount.

Question 29:

• JAMB 1999

Use the information below to answer questions 3 and 4.
Aboki Plc, became the insolvent and decided to wind up to meet the legitimate claims of its creditors.
Babalawee was called in to manage the dissolution.
after paying the debts of aboki Plc, the balance goes to?

A. Aboki Plc
B. Babalawee
C. Shareholders
D. Creditors

Question 30:

• JAMB 1999

Use this information to answer the question below.
Aboki Plc became insolvent and decided to wind up to meet the legitimate claims of its creditors. Babalawee was called in to manage the dissolution.
Babalawee is ___________?

A. A claimant
B. A manager
C. An assessor
D. A reciever