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JAMB Principles of Accounts 2013 Question 47

Question 47

Company Accounts

The debenture issued at par above the nominal value is said to be issued at a

  1. A.cost price.
  2. B.mark-up.
  3. C.premium.
  4. D.margin.
Show the answer and explanation

Answer: C (premium.)

Explanation

Issuing above nominal value is issuing at a premium.