JAMB Commerce 2012 Objective — Question 30

Question 30 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2012 Objective paper, with the correct answer and a full explanation.

A company has an authorized capital of 40 million shares at #1 each, out of which 32 million are fully paid-up and issued. What happens to the remaining 8 million shares?

A. It has been issued but not fully paid-up
B. It has not been applied for but not issued
C. It is not paid-up
D. It is not yet issuedCorrect

Explanation

The remaining of the authorised capital which have not been offered the public for subscription is referred to as unissued capital.

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