by Sunday | Dec 12 | Commerce JAMB
A. the difference between gross profit and trade expenses B. the difference between gross profit and net sales C. sales less cost of sales including sales returns D. opening stock add purchases less closing stock Correct Answer: Option A – the difference between...
by Sunday | Dec 12 | Commerce JAMB
A. subscribed capital B. authorized capital C. issued capital D. called-up capital Correct Answer: Option D – called-up capital Explanation Called up share capital is shares issued to investors, under the understanding that the shares will be paid for at a later...
by Sunday | Dec 12 | Commerce JAMB
A. overdraft B. advance C. interest D. commission Correct Answer: Option A – overdraft Explanation Overdraft: a deficit in a bank account caused by drawing more money than the account holds. The overdraft allows the account holder to continue withdrawing money...
by Sunday | Dec 12 | Commerce JAMB
A. a long-term loan B. a development bond C. a redeemable bond D. an irredeemable bond Correct Answer: Option D – an irredeemable bond Explanation Irredeemable bond; a government bond which has no date of maturity and which therefore provides interest but can...
by Sunday | Dec 12 | Commerce JAMB
A. a prospectus B. an invoice C. an open indent D. a closed indent Correct Answer: Option A – a prospectus Explanation Prospectus is a document giving details of a share offer for the benefit of investors.