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The maximum amount a company can raise through the issue of shares is

Accounts - Principles of Accounts
WAEC 2022

The maximum amount a company can raise through the issue of shares is

  • A. paid-up capital
  • B. authorized capital
  • C. reserve capital
  • D. loan capital
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Correct Answer: Option B
Explanation

Authorized capital is also known as Nominal or Registered capital. It is the capital set out in the capital clause of the company's memorandum of association.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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