Accounts - Principles of Accounts Past Questions and Answers

The main difference between the ordinary and preference shareholders is that?

A The former have voting rights while the latter do not
B In the case of winding up, the former are paid first before the latter
C The latter are not members of the company while the former are
D The former receives dividends while the latter do not

Question 72:

A club received rent N10,000 and donation of N30,000. it paid N6,000 for entertainment and is still owing N16,000 . The balance of the receipts and payments account is?

A N14,000
B N24,000
C N8,000
D N42,000

Question 73:

subscription received during the year N30,000. Subscription owed last year N4,000. subscription received for next year N6,000.
use the details above to answer the following question.

The N6,000 subscription received is?

A Capital
B Fixed asset
C Current liability
D Current asset

Question 74:

A N20,000
B N30,000
C N34,000
D N36,000

Question 75:

A cash book had a opening balance of N15,200, closing balance of N18,400 and total cash received during the period of N36,000. What was the amount of cash paid out during the same period?

A N29,200
B N17,800
C N32,800
D N19,600