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WAEC Accounting 2023 Paper

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Question : 47

Total: 50

Use the following information to answer the question

Taurus Ltd was incorporated with the legal right to issue five million ordinary shares. The company has issued three million of the shares at GH⊄ 0.60 per share. To date, the company has made calls of GH⊄ 0.40 per share. All calls have been paid by shareholders except for GH⊄ 100,000 owing from one shareholder.
The authorized number of shares is

3,000,000
8,000,000
5,000,000
100,000

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