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WAEC Financial Accounting 2012 Question 29

Question 29

Company Accounts

The portion of authorized capital that has been allotted to subscribers is

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

Answer: C (issued capital.)

Explanation

Issued capital is the part of the authorised capital actually issued (allotted) to shareholders.