Explain the following

(a) Prospectus

(b) Share certificate

(c) Underwriting of shares

(d) Ordinary shares

 (e)Dividend warrants. 
 

State five effects of hire purchase on each of the following

(a) buyer; (b) seller 
 

(a) What is the difference between Privatization and Nationalization?

(b) Explain four reasons why a country may choose to privatize state-owned enterprises.
 

(a) Adama and Awa have teamed up to form a partnership business. Explain five benefits they are likely to derive

(b) State five provisions in the Partnership Deed. 
 

(a)Distinguish between Authorized Capital and Called-up Capital

(b) Use the following information to answer the questions that follow: XYZ Limited is a trading company. The following transactions took place in the month of February:
Purchase of goods -
32 suitcases at N3,500 each
42 shirts at N800 each.
Additional information:
 (i) The cost of transporting goods to the firm's premises was #2,500 
(ii) Two workers of the firm were paid wages and salaries of 4,500 each.
(iii) Total sales revenue was N180,000. You are required to calculate the:  (a) gross profit  (b) net profit.