WAEC Accounting 2017 Objective — Question 38
Question 38 of 50 from the West African Examinations Council (WAEC) Accounting 2017 Objective paper, with the correct answer and a full explanation.
Advertisement
38. Share premium is classified in the balance sheet as
- A. A. fixed capital
- B. B. capital reserveCorrect
- C. C. revenue
- D. D. short-term capital
Explanation
Share premium is a capital reserve to the business because it does not reoccur yearly.
Advertisement
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.