Partnerships, companies, non-profit and incomplete records

Question 1 of 10

In the absence of a partnership agreement, profits are shared

Question 2 of 10

Subscriptions owed by club members at the year-end are

Question 3 of 10

The excess of income over expenditure of a club is called

Question 4 of 10

A non-profit organisation prepares an income and expenditure account instead of

Question 5 of 10

Ordinary shareholders of a company receive a share of profits called

Question 6 of 10

Opening capital GH¢15,000; closing capital GH¢22,000; drawings GH¢3,000; no new capital. Profit is

Question 7 of 10

A company issues 10,000 shares of GH¢1 at GH¢1.50. The share premium is

Question 8 of 10

A company has 50,000 ordinary shares and declares a dividend of GH¢0.20 per share. Total dividend is

Question 9 of 10

A and B share profits 3 : 2 after A's salary of GH¢4,000. Net profit is GH¢24,000. A's total share is

Question 10 of 10

Holders of ordinary shares receive