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Commerce 2023 JAMB Past Questions

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31

An announcement of a person's willingness to enter into a contract is referred to as

  • A. an acceptance
  • B. a proxy
  • C. consideration
  • D. an offer
View Answer & Discuss JAMB 2023
32

An example of a cartel is

  • A. ECOWAS
  • B. AU
  • C. OPEC
  • D. EU
View Answer & Discuss JAMB 2023
33
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                    ₦

Stock 1/1

 20,000 Net Sales 370,000

Add purchases

 250,000    

Cost of goods available for sale

 270,000    

Less stock 31/12

 40,000    

Cost of goods sold

 230,000    

Rent expenses

 35,000    

 

Find the gross profit

  • A. ₦150,000
  • B. ₦370,000
  • C. ₦230,000
  • D. ₦140,000
View Answer & Discuss JAMB 2023
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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34
  ₦  

₦

Stock 1/1

 20,000 Net sales 370,000

Add purchases

 250,000    

Cost of goods available for sale

 270,000    

Less stock 31/12

 40,000    

Cost of goods sold

 230,000    

Rent expenses

 35,000    

Calculate the net profit

  • A. ₦35,000
  • B. ₦115,000
  • C. ₦105,000
  • D. ₦40,000
View Answer & Discuss JAMB 2023
35

The function of commerce in relation to production is

  • A. helping in the extraction of raw materials from nature
  • B. yielding result
  • C. providing a link between the different stage of conversion of good
  • D. satisfying
View Answer & Discuss (1) JAMB 2023
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