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The clause specifying the maximum capital the company may raise through shares is the:
ACapital voucher
BCapital receipt
CCapital clause
DCapital charter
Answer & Solution
Correct answer: C. Capital clause
1. It fixes authorised share capital.
2. Issues beyond it are not allowed.
3. That is the capital clause.
_Source: NCERT Class 11 Business Studies, Chapter 7, Formation of a Company._
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