JAMB Past Questions and Answers - Page 370

1,846.

What are fixtures and fittings in a balance sheet?

A.

liquid capital

B.

current assets

C.

fixed assets

D.

working capital

Correct answer is C

No explanation has been provided for this answer.

1,847.

According to Mark, after Jesus has triumphantly entered Jerusalem, He

A.

Went first into the temple

B.

Went to Bethany with the twelve

C.

Wept over the city and prophesied its destruction

D.

Addressed the Pharisees who had asked Him to rebuke His disciples

Correct answer is A

No explanation has been provided for this answer.

1,848.

Compulsory dissolution of a business can arise from

A.

an agreement by the owners

B.

a declaration by a court of law

C.

the termination of its life

D.

an unfavourable economic climtate

Correct answer is B

No explanation has been provided for this answer.

1,849.

Which of the following groups is paid first when a firm liquidates?

A.

Preference shareholders

B.

Debenture holders

C.

Ordinary shareholders

D.

Cumulative preference shareholders

Correct answer is A

preference shareholders is a term used in venture capital contracts to specify which investors get paid first and how much they get paid in the event of a liquidation event such as the sale of the company.

1,850.

Which of the following takes place when firms producing at different stages in the same industry combine?

A.

conglomeration

B.

vertical integration

C.

horizontal integration

D.

cartel

Correct answer is B

No explanation has been provided for this answer.