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Wednesday, 11 November 2026
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Commerce Past Questions and Answers

Jamb 2022 Commerce Questions

Question 36:
An internal source of finance to an enterpreneur is
  • A Trade
  • B Retained earning
  • C Overdraft
  • D Debenture
View Answer & Explanation
Question 37:
Use the information below to answer this question
<table class='tbn'><tbody><tr><td> </td><td> # </td></tr><tr><td> Sales </td><td> 50,000.00 </td></tr><tr><td> Debtors </td><td> 10,000.00 </td></tr><tr><td> Cash in hand </td><td> 5,000.00 </td></tr><tr><td> Opening stock </td><td> 30,000.00 </td></tr><tr><td> Creditors </td><td> 8,000 </td></tr></tbody></table>
What is the gross profit?
  • A #35,000.00
  • B #20,000.00
  • C #5,000.00
  • D #14,000.00
View Answer & Explanation
Question 38:
Use the information below to answer this question
<table class='tbn'><tbody><tr><td> </td><td> # </td></tr><tr><td> Sales </td><td> 50,000.00 </td></tr><tr><td> Debtors </td><td> 10,000.00 </td></tr><tr><td> Cash in hand </td><td> 5,000.00 </td></tr><tr><td> Opening stock </td><td> 30,000.00 </td></tr><tr><td> Creditors </td><td> 8,000.00 </td></tr><tr><td> Purchases </td><td> 16,000.00 </td></tr><tr><td> Overdraft </td><td> 12,000.00 </td></tr><tr><td> Closing stock </td><td> 10,000.00 </td></tr></tbody></table>
What is the gross profit?
  • A #35,000.00
  • B #20,000.00
  • C #15,000.00
  • D #14,000.00
View Answer & Explanation
Question 39:
A partner who contributes only his name to the formation of a partnership is
  • A A nominal partner
  • B A limited partner
  • C A general partner
  • D An active partner
View Answer & Explanation
Question 40:
Which of the following groups would advocate for the supply of constant electricity to households?
  • A Consumer's association
  • B Credit union
  • C Employer's association
  • D Labour union
View Answer & Explanation