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The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of...

Accounts - Principles of Accounts
WAEC 2019

The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of N2.00 each. The amount of dividend declared is 

  • A. N200,000
  • B. N100,000
  • C. N20,000
  • D. N10,000
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Correct Answer: Option A
Explanation

value of shares N2 x 1,000,000 shares 
= N2,000,000
10% = \(\frac{10}{100}\) x 2,000,000 = 200,000


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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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