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WAEC Commerce 1991 (August) Question 60

Question 60

Stock Exchange

When a share is bought at a rate below the par value, it is said to have been sold

  1. A.at a discount
  2. B.cum div
  3. C.at a premium
  4. D.ex-div
  5. E.pro-rata
Show the answer and explanation

Answer: A (at a discount)

Explanation

Below par (nominal value) is at a discount; above par is at a premium.