Ontario Barrister and Solicitor Practice Exam 2025 – The All-in-One Guide to Achieving Exam Success!

PUC is the abbreviation for "paid-up capital," which is the total amount of capital that has been paid by shareholders for their shares. The formula for calculating PUC is dividing the stated capital by the number of shares paid. Stated capital is the total amount of money received by a company from the issuance of its shares. Therefore, option B is incorrect as it does not take into account the calculation of PUC. Options C and D are also incorrect as they refer to the relationship between ACB (Adjusted Cost Base) and PUC, rather than the actual calculation of PUC itself. Option A is the only correct answer as it follows the correct formula for calculating PUC.