Depending on Its Constitution and the Terms of the Prospectus

Multiple Choice

Depending on its constitution and the terms of the prospectus, a company that receives more than the required number of applications for its shares will normally:

A) issue the additional shares.
B) retain the excess in satisfaction of future calls.
C) refund the excess to unsuccessful applicants.
D) refund the excess to unsuccessful applicants or retain the excess in satisfaction of future calls.