JAMB Accounting Past Questions & Answers - Page 92

456.

LOAN IS 30% OF CREDITORS.

What is the capital balance?

A.

N1000

B.

N2100

C.

N900

D.

N1200

Correct answer is B

No explanation has been provided for this answer.

457.

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.

The subscriptions received would be

A.

N200,000

B.

N240,000

C.

N300,000

D.

N24,000

Correct answer is B

No explanation has been provided for this answer.

458.

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.

What is the closing cash balance?

A.

N35,000

B.

N211,000

C.

N5,000

D.

N10,000

Correct answer is C

No explanation has been provided for this answer.

459.

The quick ratio is

A.

1:2

B.

1:3:1

C.

1.7:1

D.

3:1

Correct answer is B

No explanation has been provided for this answer.

460.

The current ratio is

A.

1:1

B.

2:1

C.

2.8:1

D.

3.5:1

Correct answer is B

No explanation has been provided for this answer.