A limited liability company has an authorized share capital of N50 million split into 100 million shares 80 million share was offered for subscription at 60k per share payable in full on application. These have been fully subscribed and issued What is the issued capital

A limited liability company has an authorized share capital of N50 million split into 100 million shares 80 million share was offered for subscription at 60k per share payable in full on application. These have been fully subscribed and issued

What is the issued capital

A N40
B N48
C N50
D N80

jamb 1994 accounting

The correct answer is A. N40

No explanation given

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