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WAEC Financial Accounting 1999 Question 26

Question 26

Company Accounts

The main classes of shares are

  1. A.Preference Shares and Rights Issue
  2. B.Fixed Shares and Current Shares
  3. C.Ordinary Shares and Preference Shares
  4. D.Redeemable Shares and Irredeemable Shares.
Show the answer and explanation

Answer: C (Ordinary Shares and Preference Shares)

Explanation

The two main classes of shares are ordinary and preference shares.