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Given:Applications were invited by the directors of Abiodun PLC for 500,000 ordi...


Question

Given:

Applications were invited by the directors of Abiodun PLC for 500,000 ordinary shares of #1:00 each at #1:10 per share payable as follows;

On application 46k

On allotment 20k

1st Call 15k

2nd Call 19kHow much is to be paid for application?

Options

A) #230,000

B) #280,000

C) #500,000

D) #550,000

The correct answer is A.


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