Free account: track your progress — Sign up free

WAEC Accounting 2017 Theory — Question 8

Question 8 of 15 from the West African Examinations Council (WAEC) Accounting 2017 Theory paper, with the correct answer and a full explanation.

3(b) Distinguish between shares and debentures.

Model answer

Shares can be defined as a unit of ownership in a limited liability company meanwhile debentures are documents used to secure long term loan from the public. While share indicates ownership in the organization, debenture does not. Rather, it indicates indebtedness to the holder.

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 2017 Theory More Accounting past papers