What will be the number of shares to be issued to a subscriber who applied for 50,000 units.
- A. 20,000
- B. 18,000
- C. 15,000
- D. 12,000
Use the information below to answer this question.
\(\begin{array}{c|c}
\text{Stock} & 11,250 \\
\hline
\text{Debtors} & 18,750 \\
\hline
\text{Creditors} & 3,750 \\
\hline
\text{Bank} & 4,000 \\
\hline
\text{Net profit} & 7,500 \\
\hline
\text{Net} & 60,000 \\
\end{array}\)
Calculate the acid test ratio
- A. 5 : 1
- B. 6 : 1
- C. 6 : 1 : 1
- D. 4 : 1
Which method of pricing can be used satisfactorily in either rising or falling price situation?
- A. Market price
- B. Average method
- C. FIFO
- D. Standard price
Determine wage expenses from the given information, wages outstanding at the beginning, wages paid during the period 15000 and wages outstanding of the period 2,000
- A. N16,000
- B. N17,000
- C. N13,000
- D. N14,000
An entry in a subsidiary book which does not form part of the double entry system is a
- A. contra entry
- B. single entry
- C. journal entry
- D. memorandum entry
An expenses is said to be revenue in nature if it
- A. adds or contributes to the operating income of the business
- B. necessitates the introduction of additional capital
- C. reduces the capital of the business
- D. adds to or improves the value of fixed assets