JAMB Past Questions and Answers - Page 931

4,651.

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.

4,652.

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.

4,653.

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.

4,654.

Calculate the closing stock under FIFO method

A.

N875

B.

N675

C.

N600

D.

N300

Correct answer is B

No explanation has been provided for this answer.

4,655.

Determine the closing stock under LOFO method

A.

N575

B.

N500

C.

N375

D.

N275

Correct answer is A

No explanation has been provided for this answer.