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Accounts - Principles of Accounts Past Questions

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141
Under which of these conditions can a company issue shares at discount? (i)A resolution must be passed at a general meeting (ii) The amount of discount must be stated in the resolution (iii) The share must have existed for at least six years (iv) On the order of a court.
  • A. i, ii and iii only
  • B. i, ii and iv only
  • C. i, iii, and iv only
  • D. ii, iii and iv only
View Answer & Discuss JAMB 1998
142
The part of equity which is payable on winding up is called?
  • A. general reserve
  • B. revenue reserve
  • C. capital reserve
  • D. normal reserve
View Answer & Discuss JAMB 1998
143
To compute gearing ratio, divide?
  • A. profit by capital employed
  • B. current assets by current liability
  • C. profit by total assets
  • D. long-term debts by equity capital
View Answer & Discuss JAMB 1998
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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144
Which of the following entries is effected by a department when goods are charged to it at selling prices?
  • A. stock account is debited
  • B. purchases account is debited
  • C. stock account is credited
  • D. mark-up account is debited
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145
The difference between the closure of the books of a branch and those of a separate company is that?
  • A. there is retained earnings account on the branch books
  • B. the revenue and expenses account is closed to branch current account
  • C. there is no retained earnings account on the branch
  • D. the revenue and expenses account is not closed to the home office current account
View Answer & Discuss JAMB 1998
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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts