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

Question 121:

• JAMB 2015

The document setting out the regulations regarding shares, meetings and internal organization of a company is known as

A. Prospectus
B. Memorandum of association
C. Company law
D. Articles of association

Question 122:

• JAMB 2015

Use the information below to answer this question.
A limited liability company has an authorized shares capital of 50 million split into 100 millions shares. 80million shares are offered for subscriptions at 60k per share in full on application. These have been fully subscribed on issue
What is the nominal value of each share

A. N2
B. N0.80
C. N0.60
D. N0.50

Question 123:

• JAMB 2015

Capital reserves includes the following except

A. Revaluation surplus
B. Pre-incoporation profit
C. Share premium
D. General reserves

Question 124:

• JAMB 2016

The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of goods sold is a

A. Return on capital employed
B. Gross profit margin
C. Net profit margin
D. Return on equity

Question 125:

• JAMB 2016

The instrument used in analysis and interpretation of financial statement is the

A. Accounting ratios
B. Income and expenditure extract
C. Balance sheet extract
D. Found accounting