| N | |
| sales | 12,000 |
| opening stock | 3,000 |
| purchases | 7,000 |
| closing stock | 2,000 |
| wages | 500 |
| Transport | 400 |
| electricity | 300 |
From the above figures, calculate (showing all workings) the
(a) cost of goods sold.
(b) net profit percentage.
(c) rate of turnover.
(a) List any five member-countries of the Niger Basin Commission.
(b) State five objectives of the Niger Basin Commission.
(a) What is marketing?
(b) Explain five importance of marketing in an economy.
(a) Define communication.
(b) List and explain six functions of the post office.
(a) What is a contract?
(b) List five elements of a contract
(c) Explain six conditions that could lead to the termination of a contract.
(a) Explain five measures a country could take to solve its balance of payment problems.
(b) State five disadvantages of international trade.
(a) State five features common to both public and private limited companies.
(b) State five provisions of a memorandum of association.
(a) State four steps that can be taken by a customer opening a current account.
(b) Explain six functions of commercial banks.
(a) What is production?
(b) Explain the following factors of production: (i) land (ii) labour (iii) capital
(c) State three functions of an entrepreneur.
(a) Define commerce.
(b) Explain six functions of commerce in an economy.
Which of the following mode of transport involves the use of tramps?
- A. Land transport
- B. Sea transport
- C. Air transport
- D. Pipeline
Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.
What is the cost of goods sold
- A. #30,000
- B. #25,000
- C. #20,000
- D. #15,000
Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.
What is the percentage of expenses over cost?
- A. 50%
- B. 33%
- C. 25%
- D. 17%
Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.
What is the percentage of expenses over cost?
- A. 50%
- B. 33%
- C. 25%
- D. 17%
Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000
What was his net profit?
- A. #35,000
- B. #25,000
- C. #15,000
- D. #5,000
Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000
What was his net profit?
- A. #35,000
- B. #25,000
- C. #15,000
- D. #5,000
Which of the following ancillary services makes it possible for goods to be where they are required?
- A. Communication
- B. Banking
- C. Transportation
- D. Insurance
Which of the following ancillary services makes it possible for goods to be where they are required?
- A. Communication
- B. Banking
- C. Transportation
- D. Insurance
A firm on the stock exchange which agrees to buy shares not bought after a public offer is
- A. a broker
- B. a stag
- C. a jobber
- D. an underwriter
A firm on the stock exchange which agrees to buy shares not bought after a public offer is
- A. a broker
- B. a stag
- C. a jobber
- D. an underwriter
Which of the following is not a function of a retailer?
- A. Providing after sales services
- B. Stocking variety of goods
- C. Selling in small unites to the consumers
- D. Financing manufacturers