Payment for shares in installments is done by means of

Assessment: WAEC SSCE - Financial Accounting - 2008 (Objective) Subject: Financial Accounting

Question 1 Report

Payment for shares in installments is done by means of
Answer Details
Payment for shares in installments is done by means of **calls**. Calls refer to the amount of money that shareholders are required to pay periodically to the company, in addition to the amount already paid for their shares. Calls are usually made in installments and are a way for the company to raise capital gradually. Once all calls are paid, the shareholder becomes a full owner of the shares. If a shareholder fails to pay a call, the company may take legal action or even forfeit their shares.
Read lesson note on Partnership Accounts (JAMB)
View Answer

Related Questions

1

In a partnership business, the net profit serves as opening figure for
2

Which of the following concepts is exposed to hold when a proprietor makes a drawing of goods or cash from the business?
3

In the preparation of manufacturing accounts, prime cost plus factory overheads equal to cost of
4

A sales Day book is used for recording
5

Returns inwards is also called
6

An analytical cash book is used to
7

Which of the following is the basis accounting equation?
8

Which of the following is the effect of an increase in the provision for discount allowed?

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning