Use the information below to answer this question.
Mammy Plc, whose nominal capital is made up of 5,000,000 ordinary shares at 50K each, decide to offer 80% of it to the public and realized only 50% of the amount due.
what is the company authorized share authorized share capital?
A.
N4,000,000
B.
N5,000,000
C.
N7,500,000
D.
N2,500,000
Correct Answer: Option D
Explanation
From the calculation made we arrived at the answer and using the formula.
Nominal capital is the same as authorized x capital
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