A limited company has an authorized capital of 20,000,000 shares. If each share capital cost 50k and the company sold 12,000,000<br/>shares. Its issued capital is
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Correct Answer: Option D
Explanation:
Issued capital is the number of shares actually sold multiplied by the nominal value of each share.<br/><br/>\( \text{Issued Capital} = 12,000,000 \times N0.50 \)<br/><br/>\( \text{Issued Capital} = N6,000,000 \)<br/><br/>Therefore, the issued capital is N6,000,000.
Issued capital is the number of shares actually sold multiplied by the nominal value of each share.<br/><br/>\( \text{Issued Capital} = 12,000,000 \times N0.50 \)<br/><br/>\( \text{Issued Capital} = N6,000,000 \)<br/><br/>Therefore, the issued capital is N6,000,000.