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WAEC Commerce 2019 Question 13

Question 13

Business Finance

The share capital of a company stated in the Memorandum of Association and approved by the registrar of companies is

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

Answer: C (nominal capital.)

Explanation

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