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For the purpose of conversion of a partnership to a company, a total purchase consideration…

For the purpose of conversion of a partnership to a company, a total purchase consideration of N3.6m was paid. If 30% of the purchase consideration was in cash and the rest by 50k shares, how many shares issued?
  • A.
    N1080 000
  • B.
    N2 160 000
  • C.
    N3 600 000
  • D.
    N5 040 000
Correct Answer: Option D
Explanation