1995 - JAMB Commerce Past Questions and Answers - page 5
41
The financial index which compares current assets directly with current liabilities is known as current
A
turnover
B
capital
C
ratio
D
balance
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42
Rights issue means the
A
issue of shares to the directors of a company on favourable terms
B
Issue of shares by a company only to the founders of the company
C
right of shareholders to vote on any issue
D
issue of shares to shareholders on favourable terms
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43
Rights issue means the
A
issue of shares to the directors of a company on favourable terms
B
Issue of shares by a company only to the founders of the company
C
right of shareholders to vote on any issue
D
issue of shares to shareholders on favourable terms
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44
Profit that is expressed as a percentage of the cost of goods sold is referred to as
A
margin
B
mark-up
C
gain percent
D
gross profit
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45
Given:
Opening stock 40 000
Purchases 115 000
Closing stock 60 000
Sales 250 000
What is the cost of goods sold?
Opening stock 40 000
Purchases 115 000
Closing stock 60 000
Sales 250 000
What is the cost of goods sold?
A
N 155 000
B
N 95 000
C
N 50 000
D
N 30 000
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46
In the channel of distribution, which of the following sets is entirely made up of middlemen?
A
Wholesalers, retailers and agents
B
Manufacturers, consumers and retailers
C
Wholesalers, agents and consumers
D
Retailers, manufacturers and wholesalers
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47
Goods imported into a country for the purpose of re-exporting attracts a rebate known as
A
customs draw back
B
export royalty
C
incentive
D
export rebate
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48
Most foreign trade transaction are paid for through the use of
A
central bank cheques
B
bank drafts drawn by commercial banks on their foreign branches
C
irrevocable and confirmed letters of credit
D
letters of credit authenticated by the embassies of the respective countries
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49
RRF as a scheme introduced by the central bank of Nigeria means
A
recording and Rediscounting Facility
B
refinancing and Recording Facility
C
refinancing and Rediscounting Facility
D
refinancing and Reinvesting Facility
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50
Which of the following gives the correct order in which the listed documents are used?
A
debit note, order, delivery note, invoice and statement
B
order, delivery note, invoice, debit note and statement
C
statement, order, invoice, delivery note and debit note
D
invoice, order, statement, debit note and delivery note
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