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WAEC Commerce 2013 Question 33

Question 33

Business Calculations

A Ltd. Company has an authorized capital of 2,000,000 shares of D5 each. If the company issued 1,200,000 shares, its issued capital is

  1. A.D10,000,000 .
  2. B.D6,000,000.
  3. C.D4,000,000.
  4. D.D2,000,000.
Show the answer and explanation

Answer: B (D6,000,000.)

Explanation

Issued capital = 1,200,000 × D5 = D6,000,000.