A corporate charter specifies that the company may sell up to 32 million shares of stock. The company issues 24 million shares to investors and later repurchases 9.0 million shares. The number of issued shares after these transactions have been accounted for is:

Question

Business

Nathan Santana

13 January, 18:12

A corporate charter specifies that the company may sell up to 32 million shares of stock. The company issues 24 million shares to investors and later repurchases 9.0 million shares. The number of issued shares after these transactions have been accounted for is:

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Answers (1)

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Cornelius Quinn · Answer 1

Answer: 15 million shares

Explanation:

From the question, we are given the information that a corporate charter specifies that the company may sell up to 32 million shares of stock and the company issues 24 million shares to investors and later repurchases 9 million shares.

The number of issued shares after these transactions have been accounted for will be the difference between the shares that were issued and the shares that were bought back. This will be:

= 24 million shares - 9 million shares

= 15 million shares