Question

A corporate charter specifies that the company may issue up to 20 million shares of stock. The company sells 12 million shares to investors and later buys back 3 million shares. The current number of shares of treasury stock after these transactions have been accounted for is: A) 3 million shares.

B) 8 million shares.

C) 9 million shares.

D) 17 million shares.

Answer

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