JAMB Accounting Past Questions & Answers - Page 99

491.

Accumulated depreciation on the asset as at 31/12/81 was

A.

N2,487,500.00

B.

N2,736,250.00

C.

N4,511,192.00

D.

N4,975,000.00

Correct answer is B

No explanation has been provided for this answer.

493.

If a 10% dividend is approved, what is the dividend payable to ordinary shareholders?

A.

N13,000

B.

N11,300

C.

N10,000

D.

N8,000

Correct answer is D

No explanation has been provided for this answer.

494.

Equity shareholders' fund is

A.

N133,000

B.

N120,000

C.

N113,000

D.

N100,000

Correct answer is A

No explanation has been provided for this answer.

495.

The accounting concepts which assumes that business will continue to be in existence into the foresee able future is

A.

Periodicity

B.

Business entity

C.

Dual aspect

D.

Going concern

Correct answer is D

This concept is the only one among the listed that assumes that the business will continue to operate for an indefinitely long period of time.