Accounts Principles Of Accounts Jamb Past Questions and Answers

Question 71 :

• JAMB 1995

The conversion of a partners business into a limited liability company affords the

A. General partners the chance of enjoying the limited laibility protection
B. Limited liability partners the chance of enjoying the limited liability protecction
C. Creditors the chance of enjoying the limited liabiity protection
D. Debtors the chance of enjoying the limited liability protection

Question 72 :

• JAMB 1995

Which of the following ratios gives an idea of the liquidity of a firm?

A. Turnover ratio
B. Quick ratio
C. Debit ratio
D. Dividend yield

Question 73 :

• JAMB 1995

A total of 400,000 shares of N1 each are to be issued by Sariki company Ltd at a price of N1.20 per share. Application were received for 600,000 shares out of which 100,000 were dishonored. If the available share were distributed pro-rata, what refund will be due a subscriber who applied for 5,000 shares?

A. N1,000
B. N1,200
C. N4,800
D. N6,000

Question 74 :

• JAMB 1995

The measure of a company's ability to pays its debts quickly is called

A. Current ratio
B. Turnover ratio
C. Acid test ratio
D. Return of investment

Question 75 :

• JAMB 1995

Departmental accounts re maintained to ascertain the

A. Profits of the entire organization
B. Contribution of each department
C. Expenses of each department
D. Sales of each department