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When a share valued at 50k is issued at #1.59, it is said to be...

Accounts - Principles of Accounts
JAMB 2013

When a share valued at 50k is issued at #1.59, it is said to be issued at

  • A. par
  • B. premium
  • C. discount
  • D. interest
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Correct Answer: Option B
Explanation

Issue of shares at premium means that the issuing of shares above the face value (also called as nominal value or par value). Simply put, when shares are issued at a price higher than the face value, it is said to be issued at a premium.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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