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A company has an authorized capital of 40 million shares at N1 each, out f which...


Question

A company has an authorized capital of 40 million shares at N1 each, out f which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares?

Options

A) it has been issued but not paid-up

B) it has been applied for but not issued

C) it is not paid-up

D) it has not yet been issued

The correct answer is D.


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