Purchasers - #44,880 Sales - #85,850 Trade creditors - #12,250 Trade debtors - #24,000 Accrued expenses - # 350 Prepaid expenses - # 700 Stock 1/1/2006 - #25,120 Stock 31/12/2006 - #27,840 Determine the number of times stock was turned over during the period to the nearest figure

• A. 1
• B. 2
• C. 3
• D. 4

The concept of opportunity cost is important to the firm because it

• A. determines the price of the firms products
• B. increases the level of output of the firm
• C. leads to maximum satisfaction of the consumers
• D. guides firms in allocating scarce resources

Use the information below to answer question .

Capital ...................N2000

Bank ......................N1200

Purchase ..................N2500

Sales .....................N6700

Stock .....................N1300

Creditors .................N1000

Fixed assets...............N3700

Drawings ..................N?

Drawings are always estimated at 50% of capital.

Compute the amount withdrawn

• A. N2000
• B. N1500
• C. N1250
• D. N1000

The type of business where management is separated from ownership is a

• A. sole proprietorship
• B. public company
• C. partnership
• D. cooperative society

The government has decided to freeze student's grants. This means that government intends to

• A. reduce grants meant for students
• B. resume paying grants to students
• C. make students repay the grants
• D. stop paying grants to students

This question is based on General Literary Principles and Appreciation.

'His round cheeks, his round nose, his round chin were a cool, healthy red. In the globe of his face and neatly circular as if drawn in bright crayon, his narrow long, tip tilted eyes, clear a pale blue water, seemed out of place, as if two incompatible strains had collided in making him.'

The picture presented above of a particular individual has

• A. photographic clarity
• B. satiric undertones
• C. elements of exaggeration
• D. derogatory connotations

The computer using linear integrated circuit technology complied with quantification of data in term of length and distance is

• A. Main frame Computer
• B. Digital Computer
• C. Analogue Computer
• D. Hybrid Computer

Choose the option that has the same consonant sound

Chalet

• (A) champagne
• (B) chairman
• (C)chemical
• (D)college

Subsistence agriculture means

• A. cultivation for external use
• B. cultivation for local industries
• C. farming for the urban dwellers
• D. cultivation for household consumption

The ratio of the exterior angle to the interior angle of a regular polygon is 1:11. How many sides has the polygon?

• A. 30
• B. 24
• C. 18
• D. 12