Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
An abridged version of a company's income statement for 11993 contains the following information:
N
Turnover 286.5
cost of goods sold 147.5
overhead and other expenses 85.5
Taxes due for the year 26.9
What was the company's profit before tax for 1993?
A26.9 million
B53.5 million
C139.2 million
D286.5 million
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Question 752
jamb1999
A company has an authorized capital of 40 million shares at N1 per share, out of which 32 million shares have been issued and fully paid-up. The remaining 8 million shares have
Abeen issued but have not been paid-up
Bbeen applied for but not issued
Cnot been paid-up
Dnot yet been issued
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Question 753
jamb1999
Musa obtains wool from his sheep, spins and transforms it into cloth which he sells to consumers. This is a form of
Avertical integration
Bhorizontal integration
Cforward intergration
Dbackward integration
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Question 754
jamb1999
The primary motive behind an individual engaging in production is to?
Afully engaged all the factors of production
Bmake available goods and services
Cmeets projected profit
Dmeet basic human needs
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Question 755
jamb1999
A common requirement for public and private limited companies in Nigeria is that
Aa shareholder cannot transfer his shares to someone else without permission from other shareholders
Btheir annual account are made available to the Corporate Affairs Commision
Cshares can be offered for sale on the stock exchange
Dshares can be offered for sale through an issuing house
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Question 756
jamb1999
Use this information to answer the question below.
Aboki Plc became insolvent and decided to wind up to meet the legitimate claims of its creditors. Babalawee was called in to manage the dissolution.
Babalawee is ___________?
Aa claimant
Ba manager
Can assessor
Da reciever
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Question 757
jamb1999
Use the information below to answer questions 3 and 4.
Aboki Plc, became the insolvent and decided to wind up to meet the legitimate claims of its creditors.
Babalawee was called in to manage the dissolution.
after paying the debts of aboki Plc, the balance goes to?
AAboki Plc
BBabalawee
Cshareholders
Dcreditors
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Question 758
jamb1999
Commerce makes it possible for man to live in a
Acomplex and organized society
Bsociety characterized by subsistency
Csociety characterized by dependency
Dsimple and organized society
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Question 759
jamb1999
The conversion of raw material into finished products creates
AMarginal utility
BPlace utility
Cform utility
Dtime utility
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Question 760
jamb1998
Nigerian Postal Services (NIPOST) facilitates commerce in all the following ways except through
Acash on delivery service
Brecorded delivery service
Cexpress service
Dfree on board service
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Question 761
jamb1998
Emeka ordered goods for his retail shop. The manufacturer sells the goods at retail price of N 500 but would give it to Emeka at N 400. What kind of discount did he get?
ACash discount
BTrade discount
CQuantity discount
DSeasonal discount.
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Question 762
jamb1998
In a common market, member countries agree basically to
Aplace bans on the other countries’ product
Bwage war against other countries’ product
Cestablish common barriers against countries outside the market
Dnegotiate with countries outside the market for favourable terms of trade .
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Question 763
jamb1998
The reduction of import duties among the members countries of ECOWAS is an example of
Apreference duties
Bpreferential treatment
Cpreferential tariff
Dpreferential excise
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Question 764
jamb1998
Inventory control is an aspect of a
Aoperations research
Bmaterials management
CC the organizing function
DD span of control
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Question 765
jamb1998
When a business enterprise provides free service to its environment, the service is said to be a
Acivic responsibility
Bphilanthropic consideration
Csocial responsibility
Dpolitical consideration
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Question 766
jamb1998
Which of the following sequences can best fit into the structure above?
APeople control ideals
BMaterial production ideas
CFinance marketing production
DMaterial production product
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Question 767
jamb1998
Under normal circumstances, a business enterprise can be ideally structured
Aby product, function or territories
Baround the personalities in the enterprise
Con the ruling of the management
Don the basis of an order from stockholders
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Question 768
jamb1998
Management is described as
Agetting things done through people
Bimplementing of business decision
Cthe numbers of levels in an organization
Dthe people in authority in an organization
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Question 769
jamb1998
The main function of thrift, credit and loans co-operative societies is to
Aeducate their members
Bcollect money from their members
Cdisburse money to their members
Draise investment finance among thir members
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Question 770
jamb1998
The Continental West African Conference is a
Agroup of all West African countries trading in the same products
Bconference to foster unity among the West African countries
Cgorups of shipping lines operating on the same West African route
Dtrust with shareholders fromall West African countries
