Accounts - Principles of Accounts Past Questions and Answers

Eko Local Government expenditure Hospital building ---------------------- N200,000 Drugs ---------------------------------- N180,000 Hospital beds and mattresses ------------ N40,000 Doctors' and nurses' salaries ---------- N120,000 Administrative expenses ----------------- N50,000 Recurrent expenditure is

A N390,000
B N360,000
C N350,000
D N170,000

Question 77:

A government accounting systems must make sure that

A Revenue exceeds expenditure
B All applicable legal provisions are complied with
C Capital expenditure is equal to revenue
D Capital project fund is tied to recurrent expenditure

Question 78:

Equity shareholders' fund is

A N133 000
B N 120 000
C N113 000
D N 100 000

Question 79:

If a 10% dividend is approved, what is the dividend payable to ordinary shareholders?

A N 13 000
B N 11 300
C N 10 000
D N 8 000

Question 80:

A charitable club has the following figures: N Subscriptions received in 1991 2 800 Subscriptions unpaid in 1990 300 Subscriptions paid for 1992 150 Subscriptions due 1991 180 How much should be charged to the income and expenditure of this club as subscription for 1991?

A N 2 530
B N 2 680
C N 2 830
D N 2 980