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WAEC Financial Accounting 2007 Question 44

Question 44

Company Accounts

The maximum amount which a company is allowed to raise through the sale of shares is

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

Answer: A (authorised capital)

Explanation

Authorised capital is the maximum.