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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 26:
The document that explains the types of shares available for sale to the public is
  • A A prospectus
  • B An invoice
  • C An open indent
  • D A closed indent
View Answer & Explanation
Question 27:
Which of the following attracts only interest but leaves the capital unpaid
  • A A long-term loan
  • B A development bond
  • C A redeemable bond
  • D An irredeemable bond
View Answer & Explanation
Question 28:
A loan to a customer with a cheque account at a bank in which the account is allowed to go into debit is
  • A Overdraft
  • B Advance
  • C Interest
  • D Commission
View Answer & Explanation
Question 29:
Part payments made on allotted shares by subscribers is usually the
  • A Subscribed capital
  • B Authorized capital
  • C Issued capital
  • D Called-up capital
View Answer & Explanation
Question 30:
The net profit is the excess of gross profit and sources of income over all the expenses . This implies that net profit is
  • A The difference between gross profit and trade expenses
  • B The different between gross profit and net sales
  • C Sales less cost of sales including sales returns
  • D Opening stock add purchases less closing stock
View Answer & Explanation