Introduction to Company Accounts - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 91:

• JAMB 2011

Calculate the net profit?

A. N1 620
B. N1 920
C. N1 420
D. 2 120

Question 92:

• JAMB 2011

The founders of a company are?

A. Promoters
B. Shareholders
C. Canvassers
D. Stakeholders

Question 93:

• JAMB 2011

If Aboki Holdings Limited issued 120, 000 ordinary share of N2.00 each at market value of 5.50k each, the share premium would?

A. N500 000
B. N450 000
C. N550 000
D. N420 000

Question 94:

• JAMB 2012

Given:
1. The Memorandum of Association of the Company
11.The Article of Association of the Company
111. The Incorporation documents
From the above, which of the following is delivered to the Registrar of companies for incorporation

A. 1 and 11
B. 1, 11 and 111
C. 1 and 111
D. 11 and 111

Question 95:

• JAMB 2012

When shares are oversubscribed and money returned to unsuccessful applicants, the entry to record such money is to debit

A. Application and allotment account and credit unsubscribed shares
B. Application and allotment account and credit cash
C. Oversubscribed shares and credit allotment account
D. Oversubscribed shares and credit allotment account