Jamb Accounting Past Questions For Year 2002
Question 36
Use the information below to answer question .
Statement of assets and liabilities as at 31st December, 2001.
Shareholders' interest N240
Current liabilities N20
Current assets N110
Fixed assets N140
What is the networking capital?
- A. N90m
- B. N70m
- C. N100m
- D. N80m
Question 37
Use the information below to answer question . Statement of assets and liabilities as at 31st December, 2001. Shareholders' interest N240 Current liabilities N20 Current assets N110 Fixed assets N140
Determine the value of the trade investment?
- A. N8m
- B. N10m
- C. N15m
- D. N20m
Question 38
The normal accounting entry to record the dishonor of a businessman is to?
- A. debit cash book and credit suspense account
- B. debit cash book and credit drawer
- C. credit caah book and debit suspense account
- D. credit cash book and debit drawer
Question 39
Use the information below to answer questions 9 and 10.
The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000.
Creditors N50,000
Debtors N46,000
Loan N100,000
Stock N20,000
Motor vehicle N120,000
Building N70,000
Accrued wages 30,000
Bank N25 ,000
The liabilities of Udo Co. Ltd is?
- A. N180,000
- B. N181,000
- C. N177,000
- D. N110,000
Question 40
(i)Orientation (ii) Entity (iii)Legal status
(iv)Finance.
Which of the characteristics above distinguishes a profit-making from a not-for-profit-making organizations?
- A. i, ii, iii and iv
- B. i, ii, and iii
- C. ii, and iii
- D. i and ii
