Question

A corporate charter specifies that the company may sell 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 outstanding shares after these transactions have been accounted for is:

A) 8 million shares.

B) 20 million shares.

C) 10 million shares.

D) 9 million shares.

Answer

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