Jamb Accounting Past Questions For Year 2013
Question 41
The debenture issued at par above the nominal value is said to be issued at a
- A. cost price
- B. mark-up
- C. premium
- D. margin
Question 42
The distributable profit available to shareholders at the end of each year is the
- A. total profit and debtors balance
- B. general reserve and retained profit
- C. retained profit and fictitious assets
- D. total profit less creditors balance
Question 43
The issued share capital is the number of shares that are
- A. authorized by share holders
- B. shared among the directors
- C. fully subscribed
- D. in the share certificate
Question 44
Given:
Applications were invited by the directors of Abiodun PLC for 500,000 ordinary shares of #1:00 each at #1:10 per share payable as follows;
On application 46k
On allotment 20k
1st Call 15k
2nd Call 19k
How much is to be paid for application?
- A. #230,000
- B. #280,000
- C. #500,000
- D. #550,000
Question 45
Which of the following is the capital reserve of a company
- A. Share premium
- B. Retained profit
- C. Accumulated depreciation
- D. Loss on forfeited shares
