NECO Accounting 2007 Objective — Question 51
Question 51 of 60 from the National Examinations Council (NECO) Accounting 2007 Objective paper, with the correct answer and a full explanation.
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When shares are issued at the value stated in the company's Memorandum of Association, it is said to be issued at
- A. bonus
- B. discount
- C. loss
Explanation
When shares are issued at the value stated in the Memorandum of Association, they are issued at par value.
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