Commerce Past Questions and Answers

The basic characteristics of co-operative society include all except one

A It is managed democratically
B It follows the principle of one man
C Amateur Management
D Extra capital is raised through loan

Question 42:

Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

A Private limited liability
B Public limited liability
C Partnership
D Co-operative society

Question 43:

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

stockPurchase	1000	7000	Sales	8000
Closing Stock	3000

Trading Expenses[table the figures given, calculateGross profit

A 300
B 3000
C 6000
D 11000

Question 44:

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

stock Purchase	1000 7000	Sales	8000
Closing Stock	3000

Trading Expenses the figures given, calculate

Net profit

A 1400
B 5000
C 1600
D 6400

Question 45:

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

stock Purchase	1000 7000	Sales	8000
Closing Stock	3000

Trading Expenses the figures given, calculatePercentage of net profit to turnover

A 30%
B 5%
C 10%
D 20%