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WAEC Financial Accounting 2004 Question 28

Question 28

Company Accounts

The class of shareholders who are paid last in the event of winding-up are

  1. A.Ordinary
  2. B.Preference
  3. C.Founder
  4. D.Treasury.
Show the answer and explanation

Answer: A (Ordinary)

Explanation

Ordinary shareholders are paid last, after creditors and preference shareholders.