FINANCIAL ACC 101

REVISION QUESTIONS

Hey Everyone, Happy Holiday to you. I guess i would say this till the end of the Holiday Period. So once again Happy Holiday Season and Happy Summer to those of us Aboard. Have Fun and be Joyful but don't displease God in the process cos He's the reason you can have fun-Be Blessed. So in the Spirit of Holiday we are continuing revising all WAEC, JAMB & GCE Questions we can find to keep our mind fresh and in tune that way we are ready when schools resume again, so let's get started........

24. In the Balance Sheet, the Balance on the Provision for Depreciation Account is shown as?

a. Addition to Fixed Assets

b. Deduction from Fixed Assets

c. Addition to Capital

d. Deduction from Current Liabilities.

25. S. Sule sets aside from his private fund N20, 000 for Business purposes. The N20, 000 is referred to as?

a. Drawings

b. Capital

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COMMERCE 101

WAEC QUESTIONS CONTD

Hey Readers, Happy New Week. Well its Holiday Season so it's time to slow down on the tutorials and intensify the questions revision from JAMB, GCE, WAEC etc in order to remember what we have done previously and to test ourselves. We started Last week and we are continuing today, So let's get started.......

25. Information requested from a Bank Concerning the Credit worthiness of a New Customer to a Business is

a. Private Enquiry

b. Status Enquiry

c. General Enquiry            

d. Letter of Enquiry.

26. The Document which gives Legal Authority to a Company to operate as a Legal Entity is

a. Memorandum of Association

b. Article of Association

c. Share Certificate

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ECONS 101

REVISION QUESTIONS

Hey Readers, Thank God Its Friday Again!!!!... It's always the Feeling of Friday, The Feeling of Now i can Relax, so before we do, lets revise some questions in the spirit of Holiday. We are continuing the Revision of Questions of WAEC, JAMB, GCE etc. So Let's get Started....

13. If a Particular Consumer derives Total Utility of 22Utils having Consumed 4 units of a given product, his average Utility will be

a. 88 Utils

b. 18 Utils

c. 5.5 Utils

d. 3.5 Utils.

14. The Law of Diminishing Marginal Utility applies to a

a. Firm which Minimizes Cost

b. Consumer who Maximises Satisfaction

c. Producer who Maximises Marginal Product

d. Consumer who Minimises Total Utility.

15. Why is the Law of Diminishing Returns a short run Phenomenon?

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