O-LevelAccountingAccounting procedures7707/12 · May/June 2015 · Q231 Mark

Which statement applies to preference shareholders?

AThey are members of the company.

BThey are usually entitled to vote.

CThey get a fixed percentage of the profit each year.

DThey get a fixed rate of interest each year.

✓ Correct answer

A: They are members of the company.

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2015 Paper 1 Variant 2, question 23.

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