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What is meant by Authorised Capital of a Company?

Post category:Accountancy
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SOLUTION

Authorised, Registered or Nominal Capital refers to that amount which is stated in the Memorandum of Association. This is the maximum Capital for which a Company is authorised to issue shares during its lifetime

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Dev withdrew & 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12 P.a. Calculate interest on Dev’s Drawings.

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