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JAMB Commerce 2002 Question 34

Question 34

Business Finance

The total of the share capital which a company would be allowed to issue is known as

  1. A.called-up capital
  2. B.paid-up capital
  3. C.nominal capital
  4. D.issued capital.
Show the answer and explanation

Answer: C (nominal capital)

Explanation

Nominal (authorised) capital is the maximum share capital stated in the memorandum.