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:

Question

Quizplus · Accepted Answer

The company initially sold 12 million shares and then bought back 3 million shares. The outstanding shares are the shares sold minus the shares bought back, which is 12 million - 3 million = 9 million shares.

A Corporate Charter Specifies That the Company May Sell Up