Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment were received for 900,000 shares at 25k each.
Determine the amount received on application and allotment
A
#224,950
B
#225,000
C
#324,950
D
#325,000
Correct Option:
B
No further explanations yet...
2
Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment were received for 900,000 shares at 25k each.
The book value of issued share capital is
A
#675,000
B
#975,000
C
#1,350,000
D
#1,950,000
Correct Option:
D
No further explanations yet...
3
The account of government into which all monies are received and from which all expenditures are disbursed is the
A
Federation account
B
Petroleum Technology Development Fund
C
Central Bank Account
D
Development fund
Correct Option:
A
No further explanations yet...
4
In government accounting, the method used which records on the basis of financial entity with self-balancing books instead of entity of proprietorship is
A
virement
B
fund accounting
C
consolidated fund
D
financial regulation
Correct Option:
D
No further explanations yet...
5
The formula for calculating depreciation using straight line method is
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