JAMB Past Questions and Answers - Page 44

216.

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

Correct answer is A

No explanation has been provided for this answer.

217.

Given:

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

Correct answer is B

No explanation has been provided for this answer.

218.

Profit that is expressed as a percentage of the cost of goods sold is remark-upferred to as

A.

margin

B.

mark-up

C.

gain percent

D.

gross profit

Correct answer is B

No explanation has been provided for this answer.

219.

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

Correct answer is D

No explanation has been provided for this answer.

220.

The financial index which compares current assets directly with current liabilities is known as current

A.

turnover

B.

capital

C.

ratio

D.

balance

Correct answer is C

No explanation has been provided for this answer.