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GCE Commerce 1989 Question 76

Question 76

Business Calculations

Use the following information to answer Questions 76-78: A company had an authorized share capital of N30,000. It offered applicants N20,000 share capital out of which the company collected N15,000.
What was the issued capital?

  1. A.N5,000
  2. B.N10,000
  3. C.N15,000
  4. D.N20,000
  5. E.N35,000
Show the answer and explanation

Answer: D (N20,000)

Explanation

Issued capital is the part of authorised capital offered to the public: N20,000.