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JAMB Commerce 2008 Objective — Question 15

Question 15 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2008 Objective paper, with the correct answer and a full explanation.

15. Determine the company's reserve share capital.

A. N500,000Correct
B. N1,000,000
C. N1,500,000
D. N2,000,000

Explanation

Since 80% has been issued, the remaining 20% x 5,000,000 x N0.50 = N500,000.

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