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WAEC Financial Accounting 1993 Question 8

Question 8

Company Accounts

Shares are sold at less than nominal value. They are issued at a

  1. A.profit
  2. B.loss
  3. C.discount
  4. D.premium
  5. E.par.
Show the answer and explanation

Answer: C (discount)

Explanation

Selling below nominal value is issuing at a discount.