\(\begin{array}{c|c}
\text{Name} & \text{Insure amount} & \text{Actual value} & \text{Actual loss} \\
\hline
\text{Mr A} & 30,000 & 100,000 & 40,000 \\
\hline
\text{Mr B} & 40,000 & 120,000 & 50,000 \\
\hline
\text{Mr C} & 50,000 & 15,000 & 70,000 \\
\end{array}\)
If Mr A takes a fire insurance policy with average clause, his compensation will be
- A. N15,000
- B. N20,000
- C. N12,000
- D. N25, 000
\(\begin{array}{c|c}
\text{Name} & \text{Insure amount} & \text{Actual value} & \text{Actual loss} \\
\hline
\text{Mr A} & 30,000 & 100,000 & 40,000 \\
\hline
\text{Mr B} & 40,000 & 120,000 & 50,000 \\
\hline
\text{Mr C} & 50,000 & 15,000 & 70,000 \\
\end{array}\)
If Mr A takes a fire insurance policy with average clause, his compensation will be
- A. N15,000
- B. N20,000
- C. N12,000
- D. N25, 000
\(\begin{array}{c|c}
N & N \\
\hline
\text{Capital 8000} & \text{Plant and machinery5000}\\
\hline
\text{Net profit 4000} & \text{Motor Van 4500} \\
\hline
\text{Drawings 200} & \text{Stock 2000} \\
\hline
\text{Creditors 2000} & \text{Debtors 1000} \\
\hline
\text{Accurals 300} & \text{Banks 100} \\
\hline
& \text{Cash 600} \\
\hline
14100 & 14100 \\
\end{array}\)
What is the current ratio?
- A. 1 : 4
- B. 5 : 1
- C. 3 : 1
- D. 2 : 1
\(\begin{array}{c|c}
N & N \\
\hline
\text{Capital 8000} & \text{Plant and machinery5000}\\
\hline
\text{Net profit 4000} & \text{Motor Van 4500} \\
\hline
\text{Drawings 200} & \text{Stock 2000} \\
\hline
\text{Creditors 2000} & \text{Debtors 1000} \\
\hline
\text{Accurals 300} & \text{Banks 100} \\
\hline
& \text{Cash 600} \\
\hline
14100 & 14100 \\
\end{array}\)
What is the current ratio?
- A. 1 : 4
- B. 5 : 1
- C. 3 : 1
- D. 2 : 1
Given
\(\begin{array}{c|c}
\text{Opening stock} & 50,000 \\
\hline
\text{Purchases} & 200,000 \\
\hline
\text{Sales} & 350,000 \\
\hline
\text{Closing stock} & 80,000 \\
\end{array}\)
What is the cost of good sold?
- A. N200,000
- B. N190,000
- C. N170,000
- D. N175,000
Given
\(\begin{array}{c|c}
\text{Opening stock} & 50,000 \\
\hline
\text{Purchases} & 200,000 \\
\hline
\text{Sales} & 350,000 \\
\hline
\text{Closing stock} & 80,000 \\
\end{array}\)
What is the cost of good sold?
- A. N200,000
- B. N190,000
- C. N170,000
- D. N175,000
\(\begin{array}{c|c}
\text{Opening stock} & 1800 \\
\hline
\text{Purchases} & 2800 \\
\hline
\text{Sales} & 800 \\
\hline
\text{Closing stock} & 800 \\
\hline
\text{Carriage on sale} & 500 \\
\end{array}\)
Calculate the value of the unused stock
- A. N320
- B. N350
- C. N500
- D. N800
\(\begin{array}{c|c}
\text{Opening stock} & 1800 \\
\hline
\text{Purchases} & 2800 \\
\hline
\text{Sales} & 800 \\
\hline
\text{Closing stock} & 800 \\
\hline
\text{Carriage on sale} & 500 \\
\end{array}\)
Calculate the value of the unused stock
- A. N320
- B. N350
- C. N500
- D. N800
The principle of subrogation stated that
- A. An insured person should be indemnified to the time of the amount insured
- B. An insurance company constant in lace of the insured in dealing with third party.
- C. Only a person who is likely to suffer loss hold take out an insurance cover
- D. There must be accuse connection between the actual loss suffered and risk insure
Musa obtains wool from his sheep, spins and transform it into cloth which he sells to consumers, this is a form of
- A. Vertical integration
- B. Horizontal integration
- C. Forward Integration
- D. Background integration
Musa obtains wool from his sheep, spins and transform it into cloth which he sells to consumers, this is a form of
- A. Vertical integration
- B. Horizontal integration
- C. Forward Integration
- D. Background integration
The term 4 net 7 on an invoice means that
- A. 4% surcharge will be made unless payment is made within seven days
- B. 4% discount will be allowed on the price charged only if the good are bought within seven days
- C. 4% discount will be allowed on the price charge if payment is made after seven days
- D. 4% discount will be allowed on the price charged if payment is made price charged if payment is made price charged if payment is made within seven days.
The term 4 net 7 on an invoice means that
- A. 4% surcharge will be made unless payment is made within seven days
- B. 4% discount will be allowed on the price charged only if the good are bought within seven days
- C. 4% discount will be allowed on the price charge if payment is made after seven days
- D. 4% discount will be allowed on the price charged if payment is made price charged if payment is made price charged if payment is made within seven days.
The business environment that takes into cognizance the age distribution ethnic mix and educational level of the consumer is
- A. Natural Environment
- B. Cultural environment
- C. Economic environment
- D. Demographic Environment
The business environment that takes into cognizance the age distribution ethnic mix and educational level of the consumer is
- A. Natural Environment
- B. Cultural environment
- C. Economic environment
- D. Demographic Environment
The document issued to a port authority when a good are deposited is a
- A. dock warrant
- B. Dock landing account
- C. Ball of sight
- D. Bill of landing note
The document issued to a port authority when a good are deposited is a
- A. dock warrant
- B. Dock landing account
- C. Ball of sight
- D. Bill of landing note
A bond which attracts interest but leaves the capital repaid is referred to as
- A. A redeemable bond
- B. An irredeemable bond
- C. A development bond
- D. A long-term loan
A bond which attracts interest but leaves the capital repaid is referred to as
- A. A redeemable bond
- B. An irredeemable bond
- C. A development bond
- D. A long-term loan
Use the information below to answer this question.
Mammy Plc, whose nominal capital is made up of 5,000,000 ordinary shares at 50K each, decide to offer 80% of it to the public and realized only 50% of the amount due.
what is the company authorized share authorized share capital?
- A. N4,000,000
- B. N5,000,000
- C. N7,500,000
- D. N2,500,000
Use the information below to answer this question.
Mammy Plc, whose nominal capital is made up of 5,000,000 ordinary shares at 50K each, decide to offer 80% of it to the public and realized only 50% of the amount due.
what is the company authorized share authorized share capital?
- A. N4,000,000
- B. N5,000,000
- C. N7,500,000
- D. N2,500,000