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WAEC Financial Accounting 2008 Question 22

Question 22

Company Accounts

Which of the following terms is not used to describe the total amount stated in the memorandum of association approved by the Registrar of Companies?

  1. A.Authorised capital
  2. B.Registered capital
  3. C.Issued capital
  4. D.Nominal capital.
Show the answer and explanation

Answer: C (Issued capital)

Explanation

Issued capital is what has been allotted, not the maximum in the memorandum.