2020 JAMB mock commerce Questions and answers

2020 JAMB mock Questions an answers


 

Commerce

 

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

Correct Answer: Option C

 

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

Correct Answer: Option C

 

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

Correct Answer: Option D

 

4. The process of winding up or bringing a company to an end is________

A. Dissolution

B. Liquidation

C. Integrating

D. Merger

Correct Answer: Option B

 

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. 08148844158

Initial Capital 5000

Net Profit 1000

Furniture 2000

Equipment 2900

Debtors 100

Stock 1000

Bank 500

From the above, calculate Current assets

 

A. 1600

B. 1060

C. 1500

D. 600

Correct Answer: Option A

 

 

6. The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018. 08148844158

Initial Capital 5000

Net Profit 1000

Furniture 2000

Equipment 2900

Debtors 100

Stock 1000

Bank 500

From the above, calculate Fixed assets

A. 6500

B. 2000

C. 4900

D. 600

Correct Answer: Option C

 

7. The following is a summary of the asset and liabilities of www.examloed.com Ojo trading company as at 31st December, 2018

Initial Capital 5000

Net Profit 1000

Furniture 2000

Equipment 2900

Debtors 100

Stock 1000

Bank 500

From the above, calculate Current liabilities

A. 100

B. 6000

C. 600

D. 3000

Correct Answer: Option C

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

Answer: Option D

 

9. In Nigeria, it is mandatory for all business enterprises 08148844158 to be registered with the________

A. Government

B. Corporate Affairs Commission

C. Agent

D. Enterprise

Correct Answer: Option B

 

10. All but one does not provide an Indirect Service?

A. Custom Officers

B. Family Doctors

C. Civil Servants

D. Law Makers

Correct Answer: Option A

 

11. Examples of Commercial occupation are all except___________

A. Bankers

B. Traders

C. Insurers

D. Goldsmith

Correct Answer: Option D

12. All but one is not an output devices?

A. Joystick

B. Monitor

C. Plotter

D. PrintAnswer

Correct Answer: Option C

 

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