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Accounts - Principles of Accounts 1999 JAMB Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
31
The market price per ordinary share of a corporation listed on the stock exchange is most closely related to its?
  • A. earning per share
  • B. redemption price per share
  • C. book value per share
  • D. call price per share
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32
Which of the following events increases a corporation's shareholders equity?
  • A. Donation of shares out of the corporation's own stock to the corporation
  • B. The corporation's purchase of treasury stock
  • C. Shares of previously subscribed stock issue to subscribing stockholders
  • D. A municipality donation of land to the corporation
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33
If a promoter pays a lawyer N5,000 for services rendered in preparing a Memorandum of Incorporation, the journal entry is to debit?
  • A. preliminary expenses, credit cash accounts
  • B. promoter, credit creditors' accounts
  • C. lawyer's credit cash accounts
  • D. cash , credit incorporation accounts
View Answer & Discuss JAMB 1999
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34
Calls in advance are treated in the balance sheet as?
  • A. current asset
  • B. current liability
  • C. fixed assets
  • D. fixed liability
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35
Shares issued to a vendor in payment of business purchased would require a debit to?
  • A. cash account and credit to share capital account
  • B. share capital account and credit to vendor's account
  • C. vendor's account and credit to share capital account
  • D. share capital account and credit to cash account
View Answer & Discuss JAMB 1999
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts