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    Question

    _______________means such capital as is authorised by

    the memorandum of a company to be the maximum amount of share capital of the company
    A Nominal capital Correct Answer Incorrect Answer
    B Issued Capital Correct Answer Incorrect Answer
    C Subscribed Capital Correct Answer Incorrect Answer
    D Called -up Capital Correct Answer Incorrect Answer
    E Either (b) or (c) Correct Answer Incorrect Answer

    Solution

    Section 2(8) authorised capital- “authorised capital” or “nominal capital” means such capital as is authorised by the memorandum of a company to be the maximum amount of share capital of the company. 

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