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Shares issued free of charge to existing shareholders based on their previous holdings is __...

Accounts - Principles of Accounts
JAMB 2024

Shares issued free of charge to existing shareholders based on their previous holdings is __ issue

  • A. accrued
  • B. premium
  • C. floating
  • D. bonus
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Correct Answer: Option D
Explanation

A bonus issue is a way for a company to reward existing shareholders by distributing additional shares to them at no cost. The number of bonus shares received by each shareholder is typically proportional to their existing shareholding.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
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Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now