1995 - JAMB Commerce Past Questions and Answers - page 5
41
The financial index which compares current assets directly with current liabilities is known as current
A
turnover
B
capital
C
ratio
D
balance
correct option: c
Users' Answers & Comments42
Rights issue means the
A
issue of shares to the directors of a company on favourable terms
B
Issue of shares by a company only to the founders of the company
C
right of shareholders to vote on any issue
D
issue of shares to shareholders on favourable terms
correct option: d
Users' Answers & Comments43
Rights issue means the
A
issue of shares to the directors of a company on favourable terms
B
Issue of shares by a company only to the founders of the company
C
right of shareholders to vote on any issue
D
issue of shares to shareholders on favourable terms
correct option: d
Users' Answers & Comments44
Profit that is expressed as a percentage of the cost of goods sold is referred to as
A
margin
B
mark-up
C
gain percent
D
gross profit
correct option: b
Users' Answers & Comments45
Given:
Opening stock 40 000
Purchases 115 000
Closing stock 60 000
Sales 250 000
What is the cost of goods sold?
Opening stock 40 000
Purchases 115 000
Closing stock 60 000
Sales 250 000
What is the cost of goods sold?
A
N 155 000
B
N 95 000
C
N 50 000
D
N 30 000
correct option: b
Users' Answers & Comments46
In the channel of distribution, which of the following sets is entirely made up of middlemen?
A
Wholesalers, retailers and agents
B
Manufacturers, consumers and retailers
C
Wholesalers, agents and consumers
D
Retailers, manufacturers and wholesalers
correct option: a
Users' Answers & Comments47
Goods imported into a country for the purpose of re-exporting attracts a rebate known as
A
customs draw back
B
export royalty
C
incentive
D
export rebate
correct option: a
Users' Answers & Comments48
Most foreign trade transaction are paid for through the use of
A
central bank cheques
B
bank drafts drawn by commercial banks on their foreign branches
C
irrevocable and confirmed letters of credit
D
letters of credit authenticated by the embassies of the respective countries
correct option: c
Users' Answers & Comments49
RRF as a scheme introduced by the central bank of Nigeria means
A
recording and Rediscounting Facility
B
refinancing and Recording Facility
C
refinancing and Rediscounting Facility
D
refinancing and Reinvesting Facility
correct option: d
Users' Answers & Comments50
Which of the following gives the correct order in which the listed documents are used?
A
debit note, order, delivery note, invoice and statement
B
order, delivery note, invoice, debit note and statement
C
statement, order, invoice, delivery note and debit note
D
invoice, order, statement, debit note and delivery note
correct option: b
Users' Answers & Comments