Past Questions And Answers
After each of the following sentences, a list of possible interpretations is given. choose the interpretation that is most appropriate for each sentence
The night watchman was given the marching orders because of his negligence. This means that he was
- A. promoted
- B. dismissed
- C. counselled
- D. suspended
The circulating capital of a business enterprise is classified into?
- A. cash, work-in-progress and debtors
- B. cash,vehicles, land and buildings
- C. debtors , stock of raw materials and fittings
- D. pre-payments, debtors and equipment
When price is set below equilibrium, this will lead to
- A. an increase in the quantity supplied
- B. a new equilibrium
- C. a decrease in the quantity supplied
- D. a fall in price
Popular sovereignty belongs to the
- A. immigrants
- B. electorate
- C. cabinet
- D. legislature
Use the following information to answer the question
The following transactions relate to Osei Enterprises for the year ended 31st December 2020.
| D | |
Purchases | 160,000 |
| Returns outwards | 880 |
| Carriage inwards | 740 |
| Returns inwards | 620 |
| Sales | 195,000 |
| Salaries | 27,600 |
| Closing stock | 14,100 |
The cost of goods available for sale is
- A. D 175,860
- B. D 175,380
- C. D 175, 120
- D. D 175,460
Which of the following may be used to explain a mirage? i. layers of air near the road surface have varying refractive indices in hot weather. ii. road surfaces sometimes become good reflectors in hot weathers. iii. light from the sky can be reflected upwards after coming close to the road surface.
- A. ii only
- B. ii and iii only
- C. i and iii only
- D. i, ii, and iii only
Which the following concepts best describes the consistency concept?
- A) Only material items are disclosed
- B) The way an item is presented always remains the same
- C) Presentation and classification of items should remain the same unless a change is required by an IFRS
- D) A, B and C
Which of the following is a common method of disseminating information to farmers?
- A. All of the above
- B. Social media campaigns
- C. Radio broadcasts
- D. Field demonstrations
Bayo iscareless in his ways while Tayo is ________
- A. lovable
- B. meticulous
- C. difficult
- D. reserved
Fill each of the gap with the appropriate option from the list following the the gap. We cannot all wear expensive shoes in situation of......?
- A. divergent demand and supply
- B. uneven wear and tear
- C. differing purchasing power
- D. unpredicted national income