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WAEC Financial Accounting 2011 Question 34

Question 34

Company Accounts

A debenture is

  1. A.a loan capital raised by a company
  2. B.money given to a company as a gift
  3. C.accrued expenses
  4. D.share capital
Show the answer and explanation

Answer: A (a loan capital raised by a company)

Explanation

A debenture is a long-term loan to a company, usually at a fixed rate of interest.