Accounts - Principles of Accounts Past Questions and Answers

An outright sale of a partnership amounts to the?

A Compensation of vendors by the purchase
B Admission of a new partner
C Purchase of rights of a dead partner
D Change of sharing ratio of vendors

Question 262:

Given:
Opening cash balance N20,000
Sales of match tickets N15,000
Clearing of pitch N1,200
Refreshments N3,500
Referees' allowance N1,000
Cost of petrol N1,120
Donation from local government N3,800
The club's balance is?

A N39,180
B N34,830
C N34,380
D N31,980

Question 263:

Use the information below to answer question
Maimalari Ltd had (i) Earning per share 47k
(ii) Dividend per share 30k
(iii) Par value of each share N1.20
(iv) Market price per share N1.50
The company's earning yield is?

A 20.00%
B 25.00%
C 31.33%
D 39.17%

Question 264:

Use the information below to answer question Maimalari Ltd had (i) Earning per share 47k (ii) Dividend per share 30k (iii) Par value of each share N1.20 (iv) Market price per share N1.50
What will be the price earnings ratio of the company?

A 3.91
B 3.19
C 2.95
D 2.55

Question 265:

The Partnership Deed normally specifies?

A How profit or losses are to be shared
B The capital to be contributed annually
C How salaries are paid to employees
D The profit that should be earned annually