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WAEC Commerce 2003 Question 15

Question 15

Business Calculations

A public company has an authorized capital of 60,000 shares. A share costs 150k and the company has issued 36,000 shares. The issued capital would be

  1. A.N90,000
  2. B.N60,000
  3. C.N54,000
  4. D.N36,000
Show the answer and explanation

Answer: C (N54,000)

Explanation

Issued capital = 36,000 × N1.50 = N54,000.