JAMB Commerce 2021 Objective — Question 3
Question 3 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2021 Objective paper, with the correct answer and a full explanation.
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3. The total amount of shares an organisation can issue for offer is a. Issued capital b. Total capital c. Offer for sale d. Authorised capital
- A. Issued capital
- B. Total capital
- C. Offer for sale
- D. Authorised capitalCorrect
Explanation
Authorised capital is the total amount of shares that an organisation is permitted to offer for sale, as stated in its memorandum of association.
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