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JAMB Principles of Accounts 2014 Question 45

Question 45

Company Accounts

The details of the share capital which a company is authorized to issue is contained in the

  1. A.Articles of Association.
  2. B.Companies and Allied Matters Act.
  3. C.Memorandum of Association.
  4. D.Share capital certificate.
Show the answer and explanation

Answer: C (Memorandum of Association.)

Explanation

The capital clause of the Memorandum states the authorised share capital.