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WAEC Financial Accounting 1995 Question 29

Question 29

Company Accounts

The maximum amount which a company can raise by way of selling shares is

  1. A.issued capital
  2. B.working capital
  3. C.paid-up capital
  4. D.shareholders capital
  5. E.authorized capital.
Show the answer and explanation

Answer: E (authorized capital.)

Explanation

Authorised capital is the upper limit set in the memorandum.