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Hello Sir, plz clarify the ans in the 2016 CBE mock exam section A #1.
The $2m don’t get where that came from. The share capital is $1m. Please explain.
Please make it clear which exam you are referring to.
Are you referring to the exams on the ACCA website (in which case do you mean September 2016 or December 2016) or are you referring to an exam in your Revision Kit (in which case, is it BPP or Kaplan)?
The share capital is $1M, but the shares have a nominal value of $0.50 each.
Therefore the number of shares in issue is $1M / $0.50 = 2 million.
My goodness, Thank you!
Don’t know what I was thinking. I am sure I calculated that to double check but got some crazy fig and went ballistic.
My apologies
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