WAEC Accounting 2016 Objective — Question 33

Question 33 of 50 from the West African Examinations Council (WAEC) Accounting 2016 Objective paper, with the correct answer and a full explanation.

33. When allotments have been fully paid, subscribers are referred to as A. allotters B. applicants C. non-members D. shareholders

A. allotters
B. applicants
C. non-members
D. shareholdersCorrect

Explanation

When allotments have been fully paid, subscribers become shareholders. Use the following information to answer questions 34 to 36. Oruma Ltd. Issued 300,000 ordinary shares at N100 each. Applications were received for 200,000 shares and all those who applied, paid in full.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2016 Objective More Accounting past papers