If the rate of turnover of a company in 1999 was 4 times while the average stock was N49,600, determine the turnover.

Assessment: JAMB UTME - Commerce - 2012 Subject: Commerce

Question 1 Report

N199,400

N198,400

N100,200

N99,200

Answer Details

To determine the turnover of a company, we need to multiply the rate of turnover with the average stock.

In this case, the rate of turnover in 1999 was 4 times, and the average stock was N49,600. Therefore, the turnover can be calculated as:

Turnover = Rate of turnover x Average stock

Turnover = 4 x N49,600 Turnover = N198,400

So, the turnover of the company in 1999 was N198,400.

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