Ordinary Shares in Limited Liability Companies Are the Major Source

Ordinary shares in limited liability companies are the major source of external equity funding for Australian companies.Which of the following statements regarding the issuance of ordinary shares by a newly listed limited liability company is incorrect?

A) Shares may be issued on a fully paid or partly paid basis.
B) A holder of instalment receipts only has to pay the remaining amount when due or called.
C) Share price is determined with reference to a range of variable factors.
D) No liability company can issue shares only on a fully paid basis because of the risk.