📚 New textbooks & courses added regularly — Browse Textbooks  |  Explore Courses →
JAMB UTME

Commerce Past Questions

464 questions  ·  10 years  ·  1994–2004

Full JAMB UTME past questions with correct answers. Practice with timed simulations, track your scores, and top the leaderboard.

464
Questions
10
Years
1994
Earliest

Sample Questions

Showing 10 of 464 questions
1
JAMB UTME 1994

Commerce is defined as the study of how

A man utilizes the resources in his physical environment
B man produces, distributes and consumes his goods and services
C man buys, sells and distributes goods and services
D raw materials are changed into finished goods.
Answer: B
2
JAMB UTME 1994

The type of activity which turns processed raw materials into consumer and industrial goods is described as

A extractive
B manufacturing
C constructive
D processing
Answer: B
3
JAMB UTME 1994

The production process that combines two or more raw materials into one end product is

A conditioning
B blending
C merging
D synthesis.
Answer: B
4
JAMB UTME 1994

A demonstration of social responsibility by a business is the payment of

A taxes to government
B dividends to shareholders
C interest on loans
D premium for insurance.
Answer: A
5
JAMB UTME 1994

A distinguishing characteristic of a limited liability company is that it

A is a collection of many sole proprietors
B is a multiple partnership
C can sue and be sued
D has limited resources.
Answer: C
6
JAMB UTME 1994

Which of the following takes place when firms producing at different stages in the same industry combine?

A Conglomeration
B Vertical integration
C Horizontal integration
D Cartel.
Answer: B
7
JAMB UTME 1994

Which of the following groups is paid first when a firm liquidates?

A Perference shareholders.
B Debenture holders
C Ordinary shareholders.
D Cummulative preference shareholders.
Answer: B
8
JAMB UTME 1994

Compulsory dissolution of a business can arise from

A an agreement by the owners
B a declaration by a court of law
C the termination of its life
D an unfavourable economic climate.
Answer: B
9
JAMB UTME 1994

What is the circulating capital of the sole proprietor?

A N65, 250
B N60, 000
C N48, 650
D N41, 950
Answer: C
10
JAMB UTME 1994

A company earned a total revenue of N108 million with a total cost of N91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.

A N24.65 million.
B N17.00 million.
C N9.35 million.
D N7.65 million.
Answer: C

454 More Questions Available

Create a free account to practice more questions, track your progress, and top the leaderboard.

Subject Overview
Exam
JAMB UTME
Subject
Commerce
Total Questions
464
Years Covered
1994–2004
Years Available
10
Format
Multiple Choice