Commerce Past Questions and Answers

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.<br/>The average stock is

A D5,000
B D3,000
C D2,500
D D2,000

Question 3192:

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.<br/>What is the rate of turnover?

A 13.5 times
B 10.8 times
C 9 times
D 5.4 times

Question 3193:

In marine insurance, when a particular cargo is thrown into the sea in order to prevent the ship from sinking, the type of marine loss is

A Particular average loss
B General average loss
C Total average loss
D Constructive average loss

Question 3194:

The turnover of a trade is the

A Number of times the stock is sold
B Total sales made during a period
C Profit made during the period
D Total purchases made during the period

Question 3195:

The total assets of a business less its total liability is known as

A Capital owned
B Share capital
C Issued capital
D Working capital