Commerce 2005 JAMB Past Questions

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The fixed and current assets of a business are called?

A. called up capital
B. capital employed
C. paid-up capital
D. authorized capital

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To increase the supply of money in a country, the central bank has to?

A. reduce cash ratio
B. sell securities
C. call on special deposits
D. raise cash ratio

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A good financial instrument which serves as a hedge against inflation is?

A. a bond
B. a share
C. an opion
D. a warrant

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One advantage of a crossed cheque is that it can?

A. only be paud into a savings account
B. be cashed over the bank's counter
C. only be paid into the owner's account
D. be cashed by anyone

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Given:

Sales...........................N15 000
Opening stock...................N5 600
Purchases.......................N9 700
Closing stock...................N4 400
Gross profit....................N4 500
Net profit......................N2 200

From the data above, calculate the rate of turnover?

A. 3:50 times
B. 3:00 times
C. 2:00 times
D. 2:18 times

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