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

Question 16:

• JAMB 1997

What is the working capital?

A. N12 000
B. N 11 000
C. N 8 000
D. N4 000

Question 17:

• JAMB 1997

The acid test ratio in the company is

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

Question 18:

• JAMB 1997

If goods are invoiced to the branch at cost and the invoice par value is N 2 000 with 5%discount rate, can remitted to the head office is

A. N2 100
B. N 200
C. N 1 900
D. N 100

Question 19:

• JAMB 1998

A pottery company had sales of N176,000 during the current period and a gross profit rate of 40%.
The company's cost of merchandize available for sale during the period was N128,000. The company's ending inventory is?

A. N22,400
B. N32,000
C. N51,200
D. N76,800

Question 20:

• JAMB 1998

The price paid by an acquiring company is the?

A. Premium
B. Purchase consideration
C. Sales consideration
D. Conversion fee