Neco 2024 Commerce Question 29
Practice objective / multiple choice question 29 from the 2024 Neco Commerce examination.
A limited liability company must have a minimum authorized capital of \(5{,}000{,}000\) Naira. The registration fee consists of 0.5% of the authorized capital plus a fixed amount of \(25{,}000\) Naira. If the company wants the total initial cost (authorized capital plus registration fee) to be no more than \(5{,}200{,}000\) Naira, what is the greatest authorized capital it can set (in Naira)?
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About This Question
This is Neco 2024 Commerce Question 29. It is one of the objective questions from the 2024 Neco Commerce examination.
Difficulty level: Medium .
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