Jamb Accounting Past Questions For Year 2008
Question 46
Which of the following is true of Uju Nig.Ltd?
- A. It is a highly geared company
- B. It has no liquidity problem in the short term
- C. It is adequately secured in fixed assets
- D. It's working capital is zero
Question 47
The debit ratio is approximately
- A. 43%
- B. 42%
- C. 41%
- D. 23%
Question 48
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
- A. I, II and III
- B. I, II, III and IV
- C. I,IIand IV
- D. II, III and IV
Question 49
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
- A. N76 800
- B. N67 800
- C. N14 100
- D. N11 400
Question 50
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
- A. N5 200
- B. N3000
- C. N2800
- D. N2 500
