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Accounts - Principles of Accounts 2025 JAMB Past Questions

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1

The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of GH¢ 2.00 each. The amount of dividend declared is

  • A. GH¢ 10,000
  • B. GH¢ 200,000
  • C. GH¢ 100,000
  • D. GH¢ 20,000
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2

A computer set bought for #150,000 was disposed for #45,000 after some years of use. The profit on disposal was #7,500. Accumulated depreciation at the time of disposal was

  • A. #112,500
  • B. #105,000
  • C. #97,500
  • D. #37,500
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3

Which of the following terms is not used to describe the total amount stated in the memorandum of association approved by the Registrar of Companies?

  • A. Registered capital
  • B. Issued capital
  • C. Authorised capital
  • D. Nominal capital
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4

Shares issued below the nominal value are referred to as shares at

  • A. discount
  • B. face value
  • C. cumulative value
  • D. premium
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5

Sulah took two textile materials worth GH¢ 500 from his business for his children's use. This would be treated as

  • A. drawings.
  • B. loan.
  • C. stock.
  • D. sales
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