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Accounts - Principles of Accounts Past Questions and Answers

Accounts - Principles of Accounts Questions

Question 2116:
Use the following information to answer the given question<br/>\(\begin{array}{c|c} & ₦ \\ \hline \text{ordinary shares of ₦1 each} & 500,000\\ \text{8% preference shares of ₦1 each} & 200,000\\ \text{Interim dividends paid} & \\ \text{- ordinary shares} & 40,000\\ \text{-preference shares} & 12,000\\ \text{profit for the year} & 100,000\end{array}\)<br/>If no profit is to be retained, proposed preference shares dividend is
  • A ₦28,000
  • B ₦16,000
  • C ₦12,000
  • D ₦4,000
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Question 2117:
Use the following information to answer the given question<br/>\(\begin{array}{c|c} & ₦\\ \hline \text{ordinary shares of ₦1 each} & 500,000\\ \text{8% preference shares of ₦1 each} & 200,000\\ \text{Interim dividends paid} & \\ \text{- ordinary shares} & 40,000\\ \text{-preference shares} & 12,000\\ \text{profit for the year} & 100,000\end{array}\)<br/>The dividend per ordinary shares for the year is
  • A ₦0.88 kobo
  • B ₦0.40 kobo
  • C ₦0.20 kobo
  • D ₦0.17 kobo
View Answer & Explanation
Question 2118:
Use the following information to answer the given question<br/>\(\begin{array}{c|c} & ₦\\ \hline \text{ordinary shares of ₦1 each} & 500,000\\ \text{8% preference shares of ₦1 each} & 200,000\\ \text{Interim dividends paid} & \\ \text{- ordinary shares} & 40,000\\ \text{-preference shares} & 12,000\\ \text{profit for the year} & 100,000\end{array}\)<br/>The dividend per ordinary shares for the year is
  • A ₦0.88 kobo
  • B ₦0.40 kobo
  • C ₦0.20 kobo
  • D ₦0.17 kobo
View Answer & Explanation
Question 2119:
A customers who returns goods to the supplier because they are detective is issued a
  • A Debit note
  • B Credit note
  • C Delivery note
  • D Bank note
View Answer & Explanation
Question 2120:
Cross referencing among different books of accounts is achieved with the use of
  • A Columns
  • B Reference numbers
  • C Folio
  • D Margin
View Answer & Explanation