Jamb Accounting Past Questions For Year 1994
Question 26
The document setting out the regulations regarding shares, meetings and internal organization of a company is known as
- A. memorandum of association
- B. article of association
- C. prospectus
- D. company law
Question 27
A limited liability company has an authorized share capital of N50 million split into 100 million shares 80 million share was offered for subscription at 60k per share payable in full on application. These have been fully subscribed and issued
What is the issued capital
- A. N40
- B. N48
- C. N50
- D. N80
Question 28
A limited liability company has an authorized share capital of N50 million split into 100 million shares 80 million share was offered for subscription at 60k per share payable in full on application. These have been fully subscribed and issued
What is the nominal value of each share?
- A. N2
- B. N0.80
- C. N0.60
- D. N0.50
Question 29
when shares issued are paid for, accounting entry required is
- A. debit bank or cash account and credit share capital and/or premium account
- B. credit bank or cash account and debit share capital and/or premium account
- C. debit shares account and credit capital account
- D. credit shares account and debit capital account
Question 30
Under which of the following conditions is a partnership dissolved?
- A. Change of partnership's head office
- B. admission of a new partner
- C. Purchase of a large quantity of fixed asset
- D. Retirement of a manager who is not a partner
