JAMB Commerce 2020 Objective — Question 13

Question 13 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2020 Objective paper, with the correct answer and a full explanation.

13. If the average stock for the year is N500, the purchases totaled N7500, then rate of stock turnover is a

A. A. indeterminate
B. B. 8 times
C. C. 10 times
D. D. 15 timesCorrect

Explanation

Rate of stock turnover = cost of goods sold / average stock = 7500/500 = 15 times.

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