Issue of shares and debentures - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 41:

• JAMB 2015

What will be the number of shares to be issued to a subscriber who applied for 50,000 units.

A. 20,000
B. 18,000
C. 15,000
D. 12,000

Question 42:

• JAMB 2015

When shares are sold at more than the par value, they are said to have been issued at

A. A premium
B. Normal value
C. A discount
D. A profit

Question 43:

• JAMB 2017

A part of public company's profits belonging to the shareholders is

A. Public issue
B. Bonus
C. Right issue
D. Dividends

Question 44:

• 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 45:

• JAMB 2018

Calls in advance are treated in the balance sheet as_______

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