JAMB Accounting 2013 Objective — Question 43
Question 43 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2013 Objective paper, with the correct answer and a full explanation.
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Which of the following is the capital reserve of a company?
- A. Share premiumCorrect
- B. Retained profit
- C. Accumulated depreciation
- D. Loss on forfeited shares
Explanation
Share premium is a capital reserve because it does not occur every year and it is material in nature.
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