Practice Quiz

Paralegal Exam Prep

Category - Miscellaneous

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The number of shares provided for in a corporation’s articles of incorporation is:
  1. The number of available shares.
  2. The number of discounted shares.
  3. The number of declared shares.
  4. The number of redeemable shares.
  5. The number of authorized shares.
Explanation
Answer: E. The number of shares provided for in a corporation’s articles of incorporation is the number of authorized shares. The number of authorized shares can be changed with shareholder approval. The number of authorized shares is usually more than the number of issued shares.
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