The maximum number of shares that a corporation can be legally issue as prescribed in its articles of incorporation is a. Outstanding capital stock b. Subscribed share capital c. Authorized share capital d. Authorized shares Assuming four of the ten subscribers of RAZOR CO. who still have a balance payable on their subscriptions made full payment, how many shares of ordinary share capital will be issued? a. 120,000 shares b. 48,000 shares c. 60,000 shares d. none of the above When all of the subscriptions receivable of RAZOR CO. have been collected and the shares issued what is the total amount of Share Capital issued and the total number of shares issued? a. P1,200,000 equal to 120,000 shares b. P4,900,000 equal to 490,000 shares c. P4,300,000 equal to 430,000 shares d. P3,700,000 equal to 370,000 shares