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WAEC Financial Accounting 2016 Question 33

Question 33

Company Accounts

When allotments have been fully paid, subscribers are referred to as

  1. A.allotters.
  2. B.applicants.
  3. C.non-members.
  4. D.shareholders.
Show the answer and explanation

Answer: D (shareholders.)

Explanation

Once shares are allotted and paid for, the subscribers become members of the company: shareholders.