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Use the information below to answer the question that follows:
Maro Merchant Bank plc is to issue ₦500,000 ordinary shares of 50k each at ₦3.00 per share. Applications were received for ₦1,550,000 shares fully paid, ₦1,250,000 shares are to be issued on a pro rata basis and excess subscriptions were dishonored and refunds made?
The refund due to an application for ₦25,000 shares is
A) ₦45,000
B) ₦30,000
C) ₦7,500
D) ₦5,000
Use the information below to answer the question that follows:
Maro Merchant Bank plc is to issue ₦500,000 ordinary shares of 50k each at ₦3.00 per share. Applications were received for ₦1,550,000 shares fully paid, ₦1,250,000 shares are to be issued on a pro rata basis and excess subscriptions were dishonored and refunds made?
What will be the number of shares to be issued to a subscriber who applied for ₦30,000 shares
A) ₦20,000
B) ₦18,000
C) ₦15,000
D) ₦12,000
Which of the following items does not feature in the balance sheet of a club?
A) Arrears of current year's subscription
B) Salary arrears paid in the current year
C) Rental income received in advance
D) Advances subscription in respect of a coming year
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
Given:
| Opening cash balance | ₦20,000 |
| Sales of match tickets | ₦15,000 |
| Clearing of pitch | ₦1,200 |
| Refreshments | ₦3,500 |
| Referees' allowance | ₦1,000 |
| Cost of petrol | ₦1,120 |
| Donation from local government | ₦3,800 |
The club's balance is
A) ₦39,180
B) ₦34,830
C) ₦34,380
D) ₦31,980
Use the information below to answer the question that follows:
Maimalari Ltd had
| (i) Earning per share | 47k |
| (ii) Dividend per share | 30k |
| (iii) Par value of each share | ₦1.20 |
| (iv) Market price per share | ₦1.50 |
The company's earning yield is
A) 20.00%
B) 25.00%
C) 31.33%
D) 39.17%
Use the information below to answer the question that follows:
Maimalari Ltd had
| (i) Earning per share | 47k |
| (ii) Dividend per share | 30k |
| (iii) Par value of each share | ₦1.20 |
| (iv) Market price per share | ₦1.50 |
What will be the price earnings ratio of the company?
A) 3.91
B) 3.19
C) 2.95
D) 2.55
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
The accumulation fund of a non-trading concern can equally be referred to as
A) members' equity
B) share capital
C) general fund
D) surplus fund
When a purchase business is revalued, the effect is that
A) a decrease in the value of asset has no effect on value of goodwill
B) an increase in the value of asset is treated as an increase in the value of goodwill
C) a decrease in the value of asset is treated as an decrease in the value of goodwil
D) an increase in the value of asset is treated as an decrease in the value of goodwill