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

Question 131:

• JAMB 2018

N	N
Capital 39,000	Land 20,000
Long Term Loan 15, 000	Building 30,000
Creditors 9,000	Stock 40,000
	Debtors 6,000
Accrued wages 5,000	Cash 8, 000
68,000	68,000

Use the information above to answer the question
: The acid test ratio in the company is___________





A. 1:1
B. 2:3
C. 1:2
D. 3:2

Question 132:

• JAMB 2018

The amount called in respect of a share but not paid before or on the date fixed for payment is referred to as:

A. Call in advance
B. Call in arrears
C. Forfeiture
D. Shares

Question 133:

• JAMB 2018

Calls in advance are treated in the balance sheet as_______

A. Current asset
B. Fixed asset
C. Current liability
D. Fixed liability

Question 134:

• JAMB 2018

The main difference between the ordinary and preference shareholders is that?

A. The former have voting rights while the latter do not
B. In the case of winding up, the former are paid first before the latter
C. The latter are not members of the company while the former are
D. The former receives dividends while the latter do not

Question 135:

• JAMB 2018

Tanko Ltd had

Earnings per share 47k

Dividends per share 30k

Per value of each share N1.20

market price per share NM1.50

what will be the price earnings ratio of the company?

A. N3.91
B. N3.19
C. N2.95
D. N2.55