NECO Accounting 2023 Objective — Question 30
Question 30 of 50 from the National Examinations Council (NECO) Accounting 2023 Objective paper, with the correct answer and a full explanation.
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Using the same Taurus Ltd information, the authorized number of shares is (a) 8,000,000 (b) 5,000,000 (c) 3,000,000 (d) 100,000
- A. 8,000,000
- B. 5,000,000Correct
- C. 3,000,000
- D. 100,000
Explanation
The authorized (registered) share capital is the maximum number of shares a company is legally allowed to issue, which is 5,000,000 as stated.
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