JAMB Accounting 2016 Objective — Question 33
Question 33 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2016 Objective paper, with the correct answer and a full explanation.
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33. A company has 5% debentures of #100,000, ordinary share capital of #900,000, and preference shares of #250,000. The debenture interest would amount to (a) #5,000 (b) #10,000 (c) #12,500 (d) #100,000
- A. #5,000Correct
- B. #10,000
- C. #12,500
- D. #100,000
Explanation
Debenture interest is 5% of #100,000 which is #5,000.
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