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