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.Of the 3 million shares bought back,the company cancels 2 million and holds 1 million.The number of issued shares after these transactions are:
A) 12 million shares.
B) 9 million shares.
C) 10 million shares.
D) 18 million shares.
Correct Answer:
Verified
Correct Answer:
Verified
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