Jamb Commerce Past Questions and Answers

Question 341:

• JAMB 1999

An abridged version of a company's income statement for 11993 contains the following information:
N
Turnover 286.5
cost of goods sold 147.5
overhead and other expenses 85.5
Taxes due for the year 26.9
What was the company's profit before tax for 1993?

A. 26.9 million
B. 53.5 million
C. 139.2 million
D. 286.5 million

Question 342:

• JAMB 1999

A business whose owners enjoys loan facilities on the basis of personal goodwill is a?

A. Commercial bank
B. Thrift society
C. Co-operative society
D. Community bank

Question 343:

• JAMB 1999

Which of the following is not a veritable source of funds to a public limited company?

A. Government financial grant
B. Advances and loan from banks
C. Internally generated funds
D. Funds from the sale of shares

Question 344:

• JAMB 1999

Use the document below to answer question
Okon Etim Esin is the?

A. Debtor
B. Creditor
C. Exporter
D. Importer

Question 345:

• JAMB 1999

The document represents a

A. Bill of exchange
B. Cheque
C. Money order
D. A. Promissory note