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WAEC Financial Accounting 1999 Question 45

Question 45

Company Accounts

The total share capital which a company would be allowed to issue is known as

  1. A.issued share capital
  2. B.authorised share capital
  3. C.working capital
  4. D.fixed capital.
Show the answer and explanation

Answer: B (authorised share capital)

Explanation

Authorised capital is the maximum the company may issue.