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Commerce 2014 JAMB Past Questions

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26

Which of the following attracts only interest but leaves the capital unpaid

  • A. a long-term loan
  • B. a development bond
  • C. a redeemable bond
  • D. an irredeemable bond
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27

A loan to a customer with a cheque account at a bank in which the account is allowed to go into debit is

  • A. overdraft
  • B. advance
  • C. interest
  • D. commission
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28

Part payments made on allotted shares by subscribers is usually the

  • A. subscribed capital
  • B. authorized capital
  • C. issued capital
  • D. called-up capital
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29

The net profit is the excess of gross profit and sources of income over all the expenses . This implies that net profit is

  • A. the difference between gross profit and trade expenses
  • B. the different between gross profit and net sales
  • C. sales less cost of sales including sales returns
  • D. opening stock add purchases less closing stock
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30

A form of money with face value which is greater than the value of the metal content is

  • A. legal tender
  • B. bank notes
  • C. token money
  • D. commodity money
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts