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Wednesday, 30 September 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 291:
An abridged version of a company's income statement for 11993 contains the following information:<br/>N <br/>Turnover 286.5<br/>cost of goods sold 147.5<br/>overhead and other expenses 85.5<br/>Taxes due for the year 26.9<br/>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
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Question 292:
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
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Question 293:
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
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Question 294:
Use the document below to answer question <br/>Okon Etim Esin is the?
  • A Debtor
  • B Creditor
  • C Exporter
  • D Importer
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Question 295:
The document represents a
  • A Bill of exchange
  • B Cheque
  • C Money order
  • D A. Promissory note
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