Neco 2018 Financial Accounting Question 43

Practice objective / multiple choice question 43 from the 2018 Neco Financial Accounting examination.

Neco 2018 Financial Accounting Objective / Multiple Choice Hard Difficulty

Question 43 NECO • 2018 • FINANCIAL_ACCOUNTING • objective

A company provides the following financial information (all amounts in ₦):\n\nShare Capital: 600,000\nRetained Earnings (beginning of year): 300,000\nNet Profit for the year: 250,000\nDividend declared: 100,000\nFixed Assets - Cost: 1,140,000\nAccumulated Depreciation: 200,000\nCurrent Assets - Debtors: 150,000, Cash: 50,000, Inventory: 120,000\nCurrent Liabilities - Trade Payables: 180,000, Bank Overdraft: 30,000\n\nCalculate (a) the total assets, (b) total equity, (c) the debt‑to‑equity ratio (Total Liabilities ÷ Total Equity) rounded to two decimal places.

Correct Answer A. 0.20

B. 0.30

C. 0.25

D. 0.15

Correct Answer

Correct Option:

0.20

This is Neco 2018 Financial Accounting Question 43. It is one of the objective questions from the 2018 Neco Financial Accounting examination.

Difficulty level: Hard .

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