A company has an authorized capital of 40 million shares at N1 each, out of which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
Correct Answer: Option D
Explanation:
The remaining 8million shares have not been issued out for subscription by the public.
The remaining 8million shares have not been issued out for subscription by the public.