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A company has an authorized capital of 40 million shares at N1 each, out of...

Commerce
JAMB 2012

A company has an authorized capital of 40 million shares at N1 each, out of which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares?

  • A. it has been issued but not paid-up
  • B. it has been applied for but not issued
  • C. it is not paid-up
  • D. it has not yet been issued
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Correct Answer: Option D
Explanation

The remaining 8million shares have not been issued out for subscription by the public.

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