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When shares are sold at more than the par value, they are said to have...

Accounts - Principles of Accounts
JAMB 2015

When shares are sold at more than the par value, they are said to have been issued at

  • A. A premium
  • B. Normal value
  • C. A discount
  • D. A profit
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Correct Answer: Option B
Explanation

Par value  (also known as par, nominal value or face value) is the face value of a bond. Par value for a share refers to the stock value stated in the corporate charter. 

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