WAEC Accounting 2018 Objective — Question 38
Question 38 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.
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The parties who are paid last in the event of winding–up are
- A. preference shareholders
- B. debenture holders
- C. ordinary shareholdersCorrect
- D. trade creditors
Explanation
In a winding up, ordinary shareholders are paid last, after all creditors, debenture holders and preference shareholders have been settled.
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