WAEC Accounting Past Questions & Answers - Page 63

313.

Quick ratio is calculated as X-Y:Z, where

A.

x= stock; y=current assets and z= long-term liabilities

B.

x = current assets; y = debtors and z= current liabilities

C.

x=current assets; y= stock and z=current liabilities

D.

x= debtors; y= stock and z=current assets

Correct answer is C

No explanation has been provided for this answer.

314.

The mark-up on a product is 2/3. The margin is

A.

3/5

B.

2/5

C.

1/3

D.

2/9

Correct answer is B

No explanation has been provided for this answer.

315.

The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of N2.00 each. The amount of dividend declared is 

A.

N200,000

B.

N100,000

C.

N20,000

D.

N10,000

Correct answer is A

No explanation has been provided for this answer.