2019 - JAMB Commerce Past Questions and Answers - page 1
1
A partnership may be automatically dissolved due to the following factors except________
A
Court verdict
B
Joint decision
C
Admission of new partners
D
Bankruptcy of a partner
2
One of the disadvantages of Sole Proprietorship is__________
A
It requires small operations
B
It involves small capital
C
It lacks specialization
D
Grants from government
3
In the formation of a united liability company, the following documents are prepared except_______
A
Memorandum of Association
B
Article of Association
C
Statement of Nominal Capita
D
Prospectus
4
The process of winding up or bringing a company to an end is________
A
Dissolution
B
Liquidation
C
Integrating
D
Merger
5
Use the following information to answer this question.
The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018
| Initial Capital | 5000 |
| Net Profit | 1000 |
| Furniture | 2000 |
| Equipment | 2900 |
| Debtors | 100 |
| Stock | 1000 |
| Bank | 500 |
Â
From the above, calculate Current assets
Â
A
1600
B
1060
C
1500
D
600
6
The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018
| Initial Capital | 5000 |
| Net Profit | 1000 |
| Furniture | 2000 |
| Equipment | 2900 |
| Debtors | 100 |
| Stock | 1000 |
| Bank | 500 |
Â
From the above, calculate Fixed assets
Â
A
6500
B
2000
C
4900
D
600
7
The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018
| Initial Capital | 5000 |
| Net Profit | 1000 |
| Furniture | 2000 |
| Equipment | 2900 |
| Debtors | 100 |
| Stock | 1000 |
| Bank | 500 |
Â
From the above, calculate Current liabilities
A
100
B
6000
C
600
D
3000
8
In a law of contract, what is given in exchange for a promise to perform is_____
A
offer
B
acceptance
C
warranty
D
consideration
9
In Nigeria, it is mandatory for all business enterprises to be registered with the________
A
Government
B
Corporate Affairs Commission
C
Agent
D
Enterprise
10
All but one does not provide an Indirect Service?
A
Custom Officers
B
Family Doctors
C
Civil Servants
D
Law Makers
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