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CLEP Business Law

Category - Miscellaneous

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Authorized shares that have been sold by the corporation are:

Issued shares.
Converted shares.
Lost shares.
Delivered shares.
Unavailable shares.

Explanation

Answer: A. Authorized shares that have been sold by the corporation are issued shares. The number of issued shares is typically less than the number of authorized shares. The total number of issued shares outstanding is shown in the annual report.

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