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.
A company earned a total revenue of N108 million with a total cost of N91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.
AN24.65 million
BN17.00million
CN9. 35 million
DN7.65million
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Question 2
jamb1994
What is the working capital as at December 31,1992?
AN 65 250
BN60 000
CN 48 650
DN 41 950
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Question 3
jamb1994
The lake Chad Basin commission was founded to enable member states
Aexpand the volume of water in the lake for fishing activities
Bincrease navigational activities on the lake
Cdam the lake for electricity and agricultural purposes
Dco-ordinate their efforts in managing the use of the lake's resources
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Question 4
jamb1994
The West African clearing House became legally operational on
A1st july, 1976
B25th june, 1975
C14th march, 1975
D3rd may, 1974
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Question 5
jamb1994
When an oil exploring and mining company builds a health center in one of the communities where it operates, such a company is
Acurrying favour from local people
Bfinding a way to spend resonsibility
Cfulfilling part of its social responsibilty
Dinvest its idle funds
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Question 6
jamb1994
The use of computer in modern banking industry is a reflection of
Acompetitive development
Bscientific development
Ceconomic development
Dtechnological development
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Question 7
jamb1994
Which of the following makes other functions of business its appendages?
Aproduction
Bmarketing
Cfinance
Dpersonnel
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Question 8
jamb1994
The principle of span of control stipulates that
Aan employee should report to only one superior
Bmanager must demand accountability from their surbordinates
Cresources have to be economized within the various division
Dthe number of employee reporting to one superior should be kept to workable maximum
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Question 9
jamb1994
The harmonious relationship among the various units in an organization is ensured through
Aco-ordination
Bmotivation
Cplanning
Dleadership
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Question 10
jamb1994
which of the following is the most important business resource?
Amoney
Bmanagement
Cmaterials
Dmanpower
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Question 11
jamb1994
For establishment of a powerful consumers' association in Nigeria to exist, there must be
Afinancial and moral support from the public
Bhonest and commited leadership
Callocation of goods from the producer
Dfreedom from external influence
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Question 12
jamb1994
NACCIMA stands for
ANigerian-American Center for Culture,Civic, Industries, Minerals and Arts
BNigerian Association for Culture ,Civic, Industries, Minerals and Arts
CNational Agency for Culture, Civilization, Investment, Manufacturing, and Agriculture
DNigerian association of Chambers of commerce, Industries, Mines and Agriculture
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Question 13
jamb1994
Which of the following maxims negate the principle of collective bargaining?
Aindividual employees have weak bargaining base
Bindividual employees attain strength when they come together in union
Conly members of the union can benefit from agreements negotiated by the union
Dcollective bargainig covers the vast majority of employees, whether union members or not
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Question 14
jamb1994
Which of the following has power to order withdrawal of a particular food item from circulation?
AStandard organisation of Nigeria
BFederal High courts in Nigeria
CFood and Drug Department of the Federal Ministry of health
DLocal government health inspector
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Question 15
jamb1994
The comprehensive import supervision scheme was set up by the federal government in order to
Areverse Nigeria's unfavourable balance of trade
Bpromote fair trade between Nigeria and other countries
Ccounteract all fraudulent business deals of Nigeria with other nationals
Densue that import into Nigeria are of the correct quality, value and quantity
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Question 16
jamb1994
Nationalization of an industry means that its ownership becomes that of
Agovernment
Bshareholders
Ctaxpayers
Dindigenes
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Question 17
jamb1994
Mr Amusa says to Mr Bello 'i will sell you this hat for N30'. And Mr Bello replied 'i will pay N29'. The contract is
Aan offer and acceptance
Ban implied contract
Ca complete simple contract
Dan offer but no acceptance
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Question 18
jamb1994
An agreement to sell is distinguishable from sale because in the former, the transfer of goods is
Anot anticipated
Bnot discussed
Cdeferred
Dimmediate
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Question 19
jamb1994
Which of the following must be present in an agency by agreement?
Aintentions
Bwill
Cconsent
Dauthority
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Question 20
jamb1994
One advantage of personal selling over all other elements of promotion is that
