A Corporate Charter Specifies That the Company May Sell Up

Multiple Choice

A corporate charter specifies that the company may sell up to 20 million shares of stock. The company sells 12 million shares to investors and later buys back 3 million shares. The current number of outstanding shares
After these transactions have been accounted for is:

A) 8 million shares.
B) 20 million shares.
C) 10 million shares.
D) 9 million shares.