A company has an authorized capital of 40 million shares at N1 per share, out of which 32 million shares have been issued and fully paid-up. The remaining 8...

A company has an authorized capital of 40 million shares at N1 per share, out of which 32 million shares have been issued and fully paid-up. The remaining 8 million shares have

Answer Details

The remaining 8 million shares have not yet been issued. This means that they have not been made available for sale to potential buyers, and therefore, no money has been raised from the sale of these shares. The company still has the option to issue these shares in the future, either to raise more capital or to use them as part of employee compensation packages or for other purposes. However, until these shares are officially issued and sold, they do not have any value or ownership rights attached to them.