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Answer in One Sentence Only : - Book Keeping and Accountancy

One Line Answer

Answer in one Sentence only :
What is authorised capital?

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Solution

The amount of capital stated in the memorandum of association at the time of incorporation is referred to as authorised capital. It is the maximum amount of capital that can be issued to the shareholders of a company. It is also known as the registered capital or the nominal capital of the company.

Concept: Nature and Types of Share and Share Capital
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 10 Company Accounts Part - 1 (Accounting for Shares)
Exercise | Q 1 | Page 350
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