O-LevelAccountingAccounting procedures7707/11 · May/June 2023 · Q261 Mark

A limited company provided the following information. $ issued share capital (50000 ordinary shares of $1 each) 50 000 profit for the year ended 31 December 2022 13000 transfer to general reserve during the year 6000 interim ordinary share dividend paid during the year 3000 On 31 December 2022, it was decided to use the remaining profit to pay a final ordinary share dividend. Which percentage final dividend would the ordinary shareholders receive?

A8%

B14%

C20%

D26%

✓ Correct answer

A: 8%

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2023 Paper 1 Variant 1, question 26.

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