2003 - JAMB Commerce Past Questions and Answers - page 4
31
What is the owners' equity?
A
N 250 000
B
N 300 000
C
N 420 000
D
N 200 000
correct option: a
Users' Answers & Comments32
Find the current ratio
A
1.53:1
B
1, 85:1
C
0. 87: 1
D
0, 50:1
correct option: b
Users' Answers & Comments33
An example of a service-rendering trade association is?
A
Nigeria Bar Association
B
Association of Nigeria Miners
C
Cocoa Farmers' Association
D
Manufacturers' Association of Nigeria
correct option: a
Users' Answers & Comments34
An obstacle to international trade is?
A
trade imbalance between countries
B
availiability of local market
C
quantity and quality of labour
D
cost of finance
correct option: d
Users' Answers & Comments35
The right of ownership with respect to goods or property is?
A
right of occupancy
B
proxy
C
tittle
D
certificate of occupancy
correct option: d
Users' Answers & Comments36
The main motive of chambers of commerce and trade association is to?
A
assist governemnt in achieving its objective
B
protect the interest of consumers
C
maximize profit
D
protect and promote the interests of members
correct option: d
Users' Answers & Comments37
A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as?
A
selection
B
strategy
C
structure
D
synergy
correct option: c
Users' Answers & Comments38
Goods that are manufactured or acquired by the seller after the contract of sale are?
A
specialty goods
B
future goods
C
specific goods
D
general goods
correct option: c
Users' Answers & Comments39
Use the information below to answer question 7 and 8.
Ojo purchased the following items from Sani at the specified prices on credit:
200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.
Sani allowed 10% trade discount and 5% cash discount, if payment is made within the agreed period. Ojo paid within the agrred period.
What was the the amount paid by Ojo?
Ojo purchased the following items from Sani at the specified prices on credit:
200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.
Sani allowed 10% trade discount and 5% cash discount, if payment is made within the agreed period. Ojo paid within the agrred period.
What was the the amount paid by Ojo?
A
N382,500
B
N425,000
C
N363,375
D
N61,625
correct option: c
Users' Answers & Comments40
How much was the trade discount?
A
N42.500
B
N27,500
C
N22,500
D
20,000
correct option: a
Users' Answers & Comments