A company has an authorised capital of $1 000 000.
Which statement must be true?
1 )
The company must issue $1 000 000 in shares.
2 )
The company must not issue more than 1 000 000 shares.
The shares issued must not exceed $1 000 000.
4 )
The shares and debentures must not exceed $1 000 000.
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