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WAEC Financial Accounting 2017 Question 41

Question 41

Company Accounts

When allotment of shares is made applicants for shares of a company become

  1. A.promoters.
  2. B.creditors.
  3. C.debtors.
  4. D.shareholders.
Show the answer and explanation

Answer: D (shareholders.)

Explanation

Once shares are allotted, the applicants become shareholders (members) of the company.