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WAEC Accounting 2019 Objective — Question 13

Question 13 of 50 from the West African Examinations Council (WAEC) Accounting 2019 Objective paper, with the correct answer and a full explanation.

The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of GH¢2.00 each. The amount of dividend declared is

A. GHe 200,000Correct
B. GH¢ 100,000
C. GH¢ 20,000
D. GH¢ 10,000

Explanation

Dividend declared = 10% x GH¢2 x 1,000,000 = GH¢200,000.

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