WAEC Past Questions and Answers - Page 961

4,801.

When shares are oversubscribed, the promoter nay decide to scale down the number of shareholding when this is done, the shares are being

 

A.

Forfeited

B.

Issued at a discount

C.

Issued on prorate

D.

Issued at par

E.

Issued at a premium

Correct answer is C

No explanation has been provided for this answer.

4,802.

Which of the following is not on debtor's legal control account?

A.

Credit sales

B.

Cash sales

C.

Bills receivable

D.

Dishonoured cheque

E.

Cash received from customers

Correct answer is B

No explanation has been provided for this answer.

4,803.

Which of the following is not a balance sheet item?

A.

Provision for discount

B.

Outstanding wages

C.

Prepaid rent

D.

Proposed dividend

E.

Dividend received

Correct answer is E

No explanation has been provided for this answer.

4,804.

The excess of the par value of a company's shares over the amount for what for which they are issued to the public is called

A.

Discount

B.

Profit

C.

Loss

D.

Premium

E.

Reserve

Correct answer is D

No explanation has been provided for this answer.