Jamb Accounting Past Questions For Year 1999
Question 21
A credit balance on a receipt and payments account indicates that the non-profit making organization?
- A. had more revenues than expenses during the period
- B. did not owe much liabilities during the period
- C. received more cash than it paid out during the period
- D. made more cash payments than it received during the period
Question 22
Given:
Club N150
Cash sales N4,850
Club debtors at close N900
Cash received from debtors N550
What is the amount of club sales?
- A. N6,150
- B. N4,850
- C. N4,650
- D. N1,300
Question 23
Receipt and payments account of a non-profit making organization is principally a summary of the?
- A. bank entries
- B. cash book entries
- C. expenditure entries
- D. balance sheet entries
Question 24
The difference between the factory cost of production and the prime cost of production is?
- A. direct materials
- B. direct labour
- C. selling expenses
- D. overhead
Question 25
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
