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.
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Share premium is classified in the balance sheet as
- A. fixed capital
- B. capital reserveCorrect
- C. revenue
- D. short-term capital
Explanation
Share premium is a capital reserve to the business because it does not reoccur yearly.
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