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Commerce Past Questions and Answers

Commerce Questions

Question 46:
The West African clearing House became legally operational on
  • A 1st july, 1976
  • B 25th june, 1975
  • C 14th march, 1975
  • D 3rd may, 1974
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Question 47:
The lake Chad Basin commission was founded to enable member states
  • A Expand the volume of water in the lake for fishing activities
  • B Increase navigational activities on the lake
  • C Dam the lake for electricity and agricultural purposes
  • D Co-ordinate their efforts in managing the use of the lake's resources
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Question 48:
What is the working capital as at December 31,1992?
  • A N 65 250
  • B N60 000
  • C N 48 650
  • D N 41 950
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Question 49:
A company earned a total revenue of N108 million with a total cost of N91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.
  • A N24.65 million
  • B N17.00million
  • C N9. 35 million
  • D N7.65million
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Question 50:
A partnership may be automatically dissolved due to the following factors except________
  • A Court verdict
  • B Joint decision
  • C Admission of new partners
  • D Bankruptcy of a partner
View Answer & Explanation