JAMB Commerce 2015 Objective — Question 10

Question 10 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2015 Objective paper, with the correct answer and a full explanation.

A company has an authorized share capital of ₦15,000. It offered applicants ₦10,000 share capital, out of which the company collected ₦7,500. What is the paid-up capital?

A. ₦5,000
B. ₦25,000
C. ₦7,500Correct
D. ₦1,500

Explanation

Paid-up capital is the part of the issued share capital that has actually been paid for. Since ₦7,500 was collected, that is the paid-up capital.

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