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Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the period was N200
Department P's net profit was
AN5 200
BN3000
CN2800
DN2 500
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Question 2
jamb2008
Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the period was N200
What was department Q's gross profit?
AN2 500
BN2 300
CN 2 200
DN1700
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Question 3
jamb2008
Which of the following is true of Uju Nig.Ltd?
AIt is a highly geared company
BIt has no liquidity problem in the short term
CIt is adequately secured in fixed assets
DIt's working capital is zero
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Question 4
jamb2008
The debit ratio is approximately
A43%
B42%
C41%
D23%
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Question 5
jamb2008
Give:
1. Ascertainment of the particulars of the proposed company
II. Preparation of the incorporation documents
III. Filling of the documents
IV. Registration of the company
From the information above, the stages involved in the formation of a company are
AI, II and III
BI, II, III and IV
CI,IIand IV
DII, III and IV
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Question 6
jamb2008
Use this information below to answer this question.
Trading Account (Extract)
.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%
Determine the closing stock
AN76 800
BN67 800
CN14 100
DN11 400
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Question 7
jamb2008
Use this information below to answer this question.
Trading Account (Extract)
.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%
What is the gross profit?
AN88 200
BN76 800
CN 19 200
DN12 900
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Question 8
jamb2008
Given that the balance as per cash book after adjustment was N6315, nu-presented cheques N1000 and the bank statement balance N3240. What was the balance of the nu-credited cheques?
AN4075
BN4240
CN3315
DN3075
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Question 9
jamb2008
The Auditor General of the Federation can be removed by the?
ANational Assembly
BChief Justice
CThe president
DHead of Service
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Question 10
jamb2008
Which of the following is among the categories of government cash book?
AReceipt cash book
BPayment cash book
CPetty cash book
DTreasury cash book
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Question 11
jamb2008
The salary of the chief Justice of the Federation is paid from the?
Aconsolidated revenue fund
Bdevelopment fund
Ccontigency fund
Dspecial fund
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Question 12
jamb2008
A source of revenue that is compulsory payment without any derived benefit is?
Afees
Btaxes
Cfines
Droyalties
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Question 13
jamb2008
Ordinary shareholders received dividend before?
Acreditors
Bdebtors
Cpreference shareholders
Ddeferred shareholders
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Question 14
jamb2008
Cash received from the subscribed shares is recorded by debting?
Aapplication, allotment and crediting cash
Ballotment and crediting cash
Ccash and crediting subscribed shares
Dcash, crediting application and allotment account
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Question 15
jamb2008
Goodwill can be in the balance sheet as?
Afixed tangible asset
Bcurrent asset
Cfictitious asset
Dliquid asset
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Question 16
jamb2008
In partnership dissolution, an asset taken over by a partner is debited to?
Apartners capital account and credited to realization account
BPartners capital account and credited to asset account
Casset account and credited to realization account
Drealization account and credited to capital account
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Question 17
jamb2008
The entry in the partnership books of accounts for interest on drawings is to?
