Question on: JAMB Commerce - 2012
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?
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
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Correct Option: D
The question states that the company has an authorized capital of 40 million shares and issued 32 million shares. The remaining 8 million shares have not been issued yet.
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