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Commerce 2025 JAMB Past Questions

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26

Public enterprises are financed mainly by

 

  • A. commercial banks
  • B. the shareholders
  • C. the world bank
  • D. government grants
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27

Which of the following is most appropriate for a "Cash with Order" terms of sale?

 

  • A. Debit note
  • B. Consignment note
  • C. Credit note
  • D. Proforma invoice
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28

Unlimited liability in business implies that the

 

  • A. risk of the owner is limited only to the amount invested
  • B. property of the owners should not be used to secure loans
  • C. owners private property can be used to settle the business debts
  • D. debts are paid with subventions
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29

The charge paid by a speculator for non-settlement of his account within the specified period is

 

  • A. backwardation
  • B. brokerage
  • C. commission
  • D. contango
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30

The net profit is calculated as

 

  • A. sales less purchases
  • B. gross profit less expenses
  • C. gross profit less purchases
  • D. sales less expenses
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